1010-1016 Route 2Rumford, ME 04276MLS Number 1535211

  • Price: $3,300,000
  • 23 Days on Market
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1010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 042761010-1016 Route 2 Rumford ME 04276
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  • 9.86Acreage
  • 80,956Square Feet
  • 1968Year Built
The 80,375 +/- square foot Rumford Plaza offers a rare combination yield and value add play with an impressive tenant roll including Tractor Supply Company, Dollar Tree, Marden's and Motor Supply Company. Its a yield play with its list price providing an unlevered 8.18% cap rate based on the leasing the newly available 3,400 square feet of retail space @ $7.00/SF NNN. . It's a value play given the rising costs for land, construction and financing to construct an 80,000+ square foot shopping center. It's available @ $41.06/SF, a fraction of its replacement cost. There is no competition in its market area. Lastly, it's a value-add play given there is sufficient land to construct a mixed-use commercial and residential building in the massive 340 +/- space parking lot. The city of Rumford is motivated to work with qualified buyer-developers to streamline approvals for new development. 2021 common area expenses ($1.70/SF), including FY22 real estate taxes of $53,718, are reimbursed by the NNN tenants.
Listed by Bean Group ((800)450-7784)

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Coldwell Banker American Heritage Real Estate

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Coldwell Banker American Heritage Real Estate
Office: 207-942-6773
510 Broadway
Bangor, ME 04401

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Basic Information

  • Attribution Contact (800)450-7784
  • Documents Available Property Disclosure Public Access, Deed Member Only
  • Property Uses Development, Distribution, Net Leased, Retail, Strip Mall

Building

  • Building ConstructionBlock
  • FoundationConcrete Perimeter
  • Garage Spaces
  • Year Built1968

Interior

  • Flooring Concrete

Utilities

  • Electric Circuit Breakers, Underground
  • Gas Bottled
  • Heat SystemForced Air, Zoned, Gas Bottled
  • Heating FuelGas Bottled
  • Heating YN Yes
  • Sewer Public Sewer
  • Water Source Public

Tax Information

  • Tax Book Number 5360
  • Tax Map Number 212
  • Tax Year 9999
  • Taxes$2,122

Location

  • Address1010-1016 Route 2
  • Building Number1010-1016
  • CountyOxford
  • Latitude44.520071
  • Longitude-70.557142
  • StateME
  • StreetRt. 2
  • TownRumford
  • Zip04276

Property Information

  • Acreage9.86
  • Lot Features Retail Strip, Suburban
  • Lot Size Area 9
  • Lot Size Square Feet 429,501
  • Lot Size Units Acres
  • Square Feet80,956

Parking

  • Parking Spaces21+ Spaces, On Site, Paved, Off Street

Basic Information

  • Agent ID003210
  • Broker ID2484
  • Broker NameBean Group
  • List Price$3,300,000
  • LocationTypeRetail Strip, Suburban
  • MLS Number1535211
  • Modification Date03/06/2023
  • Property SubTypeRetail

Exterior

  • Exterior Block
  • RoofMembrane

Amenities

  • Mls StatusActive
  • Other AmenitiesFireplace

Legal

  • ZoningBusiness

Photos

  • Number of Photos17

Other

  • Date Listed03/06/2023
  • View Count17

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