5 Community Drive A1 Augusta, ME 04330

Building Details

Year Built

2000

Listing office LAER j***@gmail.com Show Phone

Listing date Feb 11, 2025

Source Exitrealty

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Investment Insights

Based on property information with market context.

This first-class commercial office building is located at the crossroads of commerce, adjacent to the Mall at Augusta, the University of Maine at Augusta, and the Augusta Civic Center. Constructed in 2000, the property features over 13,000 square feet of prime office space. The building is a condo with great exposure and high traffic count. It houses a collection of professional tenants in 12 different office suites. Tenants share a conference area, a fully equipped gym, a customer waiting area, and bathrooms. The first-floor office space has multiple entrances and ample parking. The current rental income for 2025 is $20,931 per month, or $257,832 per year. In 2024, annual expenses totaled $110,834, resulting in a net income of $146,998. The cap rate is 8.39 percent. The property is currently 88% leased, with three additional suites available for lease to generate further income.

Key Highlights

• High annual net income of $146,998
• Strong 8.39 percent cap rate
• Prime location adjacent to the Mall at Augusta, University of Maine at Augusta, and the Augusta Civic Center

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FAQs

What type of property is this?

Office building - First-class commercial office building with long-term tenants and high income.

Where is this office building located?

The property is located at 5 Community Drive A1 Augusta, ME.

What is the asking price?

The asking price for this property is $1,750,000.

What are key features of this property?

This property features: High annual net income of $146,998; Strong 8.39 percent cap rate; Prime location adjacent to the Mall at Augusta, University of Maine at Augusta, and the Augusta Civic Center