Millinocket, ME Large historic office building offering professional space (Building class B)

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1 Millinocket, ME Large historic office building offering professional space (Building class B) 70 Spring St, Millinocket, ME 04462

2 13,000 sq ft office building in Maine 40% OCCUPIED PRODUCING A RENTAL INCOME OF $36,600/ YEAR RENTAL INCOME WHEN FULLY RENTED POTENTIAL $90,000/ YEAR Overview Large historic office building offering professional space (Building class B) 13,012 Sq ft on 3 floors and 1.5 acres Great condition and excellent lease/rental income Low real estate taxes- Buy and immediately start getting a continuous and steady cash flow Very good tenants currently about 40% occupied and producing a gross rental income of $36,600/ year More lease space available and a conference center. Plenty of space and parking (1.5 acres) New property managers appointed to promote the property and increase occupancy to 100% Gross rental income when fully rented is $90,000/ year

3 Millinocket, ME - 13,000sq ft office building Expenses: Taxes $5,100 / year Electric : $6,000 / year Water $2230 / year including the fire service Sewer $220 / year Other expense: maintenance, heating, insurance and plowing. Building is in very good condition with many updates (2006) which include: New rubber roof with 10 year warranty New roof drains and plumbing/exterior painting/exterior doors 1st and second floors updates: Lobby areas carpeted, dry walled and painted, and new drop ceilings fitting and energy efficient lighting installed. Boiler and Sprinkler Systems Overhauled Basement converted into dance studio with new hardwood floors, new bathroom/changing room and new lighting. Conference room and catering kitchen built. Custom wood cabinets, new refrigerator, sink, counters, serving window, linoleum and dropped ceilings. Miscellaneous fire protection equipment installed in meet State & Local Codes. Lead Detection system for fuel tank. Location: Great location in Near downtown Millinocket, on Central Street, take a right on Congress Street, then left on Spring Street. Building on left. Property values: The average listing price for homes for sale in was $118,373 (Trulia.com) Potential Rental income: About 40% of the space is currently rented out for $3,050/ month Gross rental income when fully rented: $7,625/ month At this rate, the fully rented property could bring around $91,500 in rental income per year. Sold AS IS, WHERE IS You will get a clear title with title insurance and no liens or back taxes. Note: There is a cell tower lease in place.

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9 Large historic office building - 13,000 sq ft 70 Spring St, Millinocket, ME PRINCETON COMMERCIAL HOLDINGS LLC 113 Barksdale Professional Center Newark Delaware Tel: Fax: No statement anywhere, whether express or implied, shall be deemed a warranty or representation by the Seller regarding these assets. All buyers are deemed to have relied entirely on their own information, judgments and inspections of the property in making the decision to purchase the property. All bidders to do their own due diligence.