1010-1016 Rt. 2Rumford, ME 04276MLS Number 1535211

  • Price: $3,300,000
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Federal 30-year interest rate: 5.22% last updated on Aug 11, 2022
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1010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 042761010-1016 Rt. 2 Rumford ME 04276
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  • 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
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

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

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Experience says it all: