1010-1016 Rt 2 Rumford
1010-1016 Rt 2, Rumford ME 04276
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.
Listing Courtesy of Bean Group
- Listing Id1535211
- Book / Page5360 / 60
- Waste Water DisposalPublic Sewer
- Heat SystemForced Air, Multi-Zones
- Heat FuelGas Bottled
- ElectricCircuit Breakers, Underground
- LocationRetail Strip, Suburban
- Parking21+ Spaces, Off Street, On Site, Paved
- Checked For UpdatesSaturday, January 28, 2023, 9:37 AM
- IDX Listing UpdatedWednesday, September 21, 2022, 2:33 PM
Anne Erwin Sotheby's International Realty participates in MREIS' Maine Internet Data Exchange (Maine IDX) program, allowing us to display other Maine IDX Participants' listings. This website does not display complete listings. Certain listings of other real estate brokerage firms have been excluded.