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

  • Price: $3,300,000
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Federal 30-year interest rate: 6.49% last updated on Dec 1, 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
  • 53,718Tax Year
  • ActiveMLS Status
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

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Hearth & Home Realty
Hearth & Home Realty
Office: 207-696-4247
274 Main St
Madison, ME 04950

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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 Date08/23/2022

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 Date09/21/2022
  • 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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