- 9.86Acreage
- 1968Year Built
Rumford Plaza offers a rare combination value & yield play with an impressive tenant roll of Marden's (54% of space), Tractor Supply Company, Dollar Tree, Motion Industries and Carparts Stores.The shopping center is 100% leased with high barriers to entry as land and construction costs make new shopping centers cost prohibitive and a dearth of available properties capable of handling big box retailers Marden's and Tractor Supply.Marden's is a second-generation family-owned company with 14 locations throughout Maine. The Rumford store dominates its market; the nearest Marden's is 43 miles away. They have been a tenant since 2007 and just renewed their lease.Tractor Supply Company is the largest operator of rural lifestyle retail stores in America with 1,863 stores. It sports a valuation of $15.2 Billion and had 2019 NOI of $562 Million. They have been a tenant since 2013.Dollar Tree has 15,288 stores (39 in Maine) in North America. Fiscal year 2020 sales increased 52% since 2016 to $23.61 Billion. NOI is $827 Million. S&P rates it investment (BBB-) grade. They have been a tenant since 2005.Motion Industries, subsidiary of Genuine Parts Industries ('19 revenues of $19.4 Billion), distributes industrial replacement parts and materials throughout the region. They have been a tenant since 2009. Carparts Stores recently leased the former Olympia Sports 5,880 square foot space. Carparts has 20 stores in Maine, New Hampshire and Massachusetts and is part of the 4,000 +/- strong-Alliance buying group. Their new tenancy is a bullish signal of confidence in the local economy.Listed at $41.51/SF, a fraction of its replacement and land cost, yields a cap rate of 8.0% with new lease extension for Dollar Tree and new Motion Industries lease.2019 CAM was low at $1.48/SF.Rumford Plaza is an investment opportunity providing a steady yield with long-term growth potential. It's an ideal 1031 exchange.
Listed by Bean Group
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Coldwell Banker American Heritage Real Estate
Office: 207-942-6773
510 Broadway
Bangor, ME 04401
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More Info
Location Information
- Building Number80
- StreetValley Circle
Building
- Year Built1968
Property
- Acreage9.86
- Sq Ft Finished Total80,475
- Leased LandNo
Photos
- Number of Photos8
- Last Img Trans Date11/10/2020
Other
- Parking Spaces21+ Spaces, Paved
- View Count42
Tax Information
- Tax Year19
Location
- StateME
- TownRumford
- Zip04276
- LocationBusiness District
- CountyOxford
- Map212
Property Information
- Property UsesCommercial, Medical, Neighborhood Center, Net Leased, Other, Restaurant, Retail, Strip Mall
- Zoning OverlayNo
Basic Information
- List Price$3,340,885
- MLS Number1425666
- Address80 Valley Circle
- Broker NameBean Group
- Modification Date11/10/2020
- Agent ID003210
- Broker ID2484
- MLS StatusActive
Legal
- Taxes$14,095
- ZoningCommercial
- LeasesYes
Experience says it all:
I live 4hrs away from the house and land Phil has sold for me and I could not be happier. Phil has gone above and beyond, from checking on house during storm ,to doing repairs, to keeping me informed of local event, I consider Phil a friend and a great agent!
Anthoney Takis