- 9.86Acreage
- 1968Year Built
The 81,000 +/- SF Rumford Plaza offers a rare combination yield and value-add play with an impressive tenant roll including Tractor Supply Company, Dollar Tree, Marden's, Motion Industries and Carparts Stores.It's a yield play with its $3.3M list price yielding an unlevered 7.96% cap rate with several long-term tenants.High land and construction costs make new shopping centers cost prohibitive, hence acquiring the plaza also creates a value play given its replacement cost far exceeds its $40.76/SF cost. There is no competition in the area.Finally, it's a value-add play as 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. FY22 real estate taxes are $53,718, reimbursed by the NNN tenants.
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 Number1010-1016
- StreetRt. 2
Building
- BasementNone
- Stories1
- Year Built1968
- FoundationPoured Concrete
- Building FeaturesLoading Docks 1 - 4, Overhead Doors
- RoofMembrane
Exterior
- ExteriorBlock
Property Information
- Property UsesDevelopment, Distribution, Net Leased, Retail, Strip Mall
- Zoning OverlayUnknown
Photos
- Number of Photos17
- Last Img Trans Date07/09/2022
Tax Information
- Tax Year53,718
Location
- StateME
- TownRumford
- Zip04276
- LocationRetail Strip, Suburban
- CountyOxford
- Map212
- Road Frontage200
Property
- Acreage9.86
- Sq Ft Finished Total80,956
- Leased LandNo
Legal
- Taxes$2,122
- ZoningBusiness
- LeasesYes
Other
- Parking Spaces21+ Spaces, Off Street, On Site, Paved
- View Count4
Basic Information
- List Price$3,300,000
- MLS Number1535211
- Address1010-1016 Rt. 2
- Broker NameBean Group
- Modification Date07/09/2022
- Agent ID003210
- Broker ID2484
- MLS StatusActive
- Property SubTypeRetail
Interior
- FloorsConcrete
Utilities
- Heat SystemForced Air, Multi-Zones
- Heating FuelGas Bottled
- Waste Water DisposalPublic Sewer
- WaterPublic
- ElectricCircuit Breakers, Underground
- GasBottled
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