OFFICE BUILDING FOR SALE SINGLE TENANT PROPERTY 208 GRAHAM STREET, BIDDEFORD, MAINE

Transcription

1 FOR SALE SINGLE TENANT PROPERTY OFFICE BUILDING This subject single tenant property is located in Biddeford near the intersection of Alfred Road and Elm Streets and behind the Burger King and Rite Aid at that intersection. ACCESS: TENANT: From Elm St. at Burger King, turn onto West St. Property is located on the corner of West & Graham Streets State of Maine The property is leased by the State of Maine Department of Human Services which has occupied the building since January of 2010 with over four years remaining on the lease. The lease also contains renewal options. This is an ideal location for DHS on the bus line. CAP RATE: 9±% NOI: $146,377 While it is not common for the State to do so, the owner will attempt to seek a lease renewal in advance of the expiration of the current lease. JOHN DOYON, CCIM direct direct fax john@malonecb.com MALONE COMMERCIAL BROKERS 5 Moulton Street Suite 3 Portland, ME main

2 SUBJECT As mentioned earlier, the property is located near the Alfred Street (Route 111) and Elm Street (U.S. Route 1) intersection and behind Burger King and Rite Aid. JOHN DOYON, CCIM direct direct fax This document has been prepared by Malone Commercial Brokers for advertising and general information only. Malone Commercial Brokers makes no guarantees, representations or warranties of any kind, expressed or implied, regarding, but not limited to, warranties of content, accuracy, and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. Malone Commercial Brokers excludes unequivocally all informed or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages there from. All data is subject to change of price, error, omissions, other conditions or withdrawal without notice. Malone Commercial Brokers is acting as the Seller s/lessor s agent in the marketing of this property.

3 Property Summary OWNER: SITE SIZE: FRONTAGE: 122 Tom Nevers Realty Trust 1.03± acres 150± ft. on Graham Street; 300± ft. on West Street ZONE: BUILDING SIZE: R2 BUILDING DIMENSIONS: 189 x 112 USE: CONFIGURATION: STORIES: 1 BUILT: Circa 1965 CONSTRUCTION: EXTERIOR: HANDICAPPED ACCESS: 21,666± SF according to city records 20,986± SF plus 400± SF of cold storage according to the lease Offices - 100% leased by State of Maine Combination of private offices, conference rooms, and large open staff areas with cubicles. See floor plan. Appears to be wood frame Vertical wood siding (possibly T-111) and shingles Exterior ramp in place ROOF: EXTERIOR LIGHTING: FLOORING: CEILINGS: WINDOWS: LIGHTING: RESTROOMS: Tar and gravel according to city records along with asphalt shingles in the gambrel Building mounted security lights for parking lot Carpet and tile 8± ft. Double pane in most locations Parabolic style and fluorescent (4) - generally conforming to handicapped standards Continued next page JOHN DOYON, CCIM direct direct fax john@malonecb.com MALONE COMMERCIAL BROKERS 5 Moulton Street Suite 3 Portland, ME main

4 Property Summary (continued) ELECTRICAL: WATER & SEWER: HVAC: PARKING: 400 amps approximately - electrical boxes were locked off, 3-phase indicated Municipal Central gas-fired heat and electric-air distributed. Roof-mounted with 9± systems that appear to be visible (cannot verify if all are operational) 100± spaces with parking lines faded making exact count difficult. It appears there is a line of 12± additional spaces made available at the rear of the Burger King parking lot. DEED REFERENCE: York County Registry of Deeds Book 13261, Page 26 ASSESSOR REFERENCE: Map 28, Lot 58 ASSESSED VALUE: $ 60,600 Land $1,152,200 Building $1,212,800 REAL ESTATE TAXES: $26,689 (2014) NET OPERATING INCOME: SALE PRICE: $1,595,000. $146,377 based upon the rent increase effective January 2016 providing a projected 9±% cap rate at the asking price * Rent Roll and Income & Expenses are on the next 2 pages JOHN DOYON, CCIM direct direct fax john@malonecb.com MALONE COMMERCIAL BROKERS 5 Moulton Street Suite 3 Portland, ME main

5 Rent Roll

6 Income & Expenses

7 Site Plan

8 Floor Plan

9 Assessor Map (portion) Map 28, Lot 58 SUBJECT