Mixed-Use Portfolio with Approved
For Sale
$1,500,000
137-145 Civic Center Drive, Augusta, ME 04330
Three adjoining properties combine occupied commercial space, a vacant residence, and approved plans for replacement retail buildings.
Property Size6,459 SF
Lot Size1.46 Acres
Price / SF$232.23
Days on Market1096
Property Features for 137-145 Civic Center Drive
General Information
Standard status
Active
Size
6,459 SF
Lot size
1.46 Acres
Property subtype
Commercial
Zoning
CD
Site & Location
Highway Access
Yes
Mixed-Use Components
retail, office, residential
Additional Details
Tenant in Place
Yes
Taxes and HOA fees
Annual Taxes
$27,390
Building Details
Building Size
6,459 SF
Year Built
1972
Buildings
3
Stories
2
Tenancy
Multi
Listing Agency:
Keller Williams Realty
(207) 879-9800
Listed By:
Dennis Wheelock · License #BR921652
(207) 242-5588
Source:
Amerorealty
Added: Nov 2, 2023
Changed: Oct 31
Last Checked: Oct 31 at 2:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Keller Williams Realty
Ask AI about this property
Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
Three adjoining parcels in Augusta comprise approximately 1.46 acres and 6,459 square feet of mixed-use space. The portfolio includes a 4,280-square-foot building with Sam's Italian Foods and J Salon, a two-story, 1,008-square-foot building with a ground-floor wine and cheese business and upper-level office space, and a vacant 1,171-square-foot, three-bedroom house. The property was built in 1972 and is zoned CD.
Approved redevelopment plans call for a 2,176-square-foot retail building beside the existing 4,280-square-foot building. The plans also replace the smaller commercial building and residence with a 2,720-square-foot retail building. The property is on Civic Center Drive, less than half a mile from the Maine Turnpike, near Marketplace at Augusta, UMaine Augusta, and the Augusta Civic Center.
Approved redevelopment plans call for a 2,176-square-foot retail building beside the existing 4,280-square-foot building. The plans also replace the smaller commercial building and residence with a 2,720-square-foot retail building. The property is on Civic Center Drive, less than half a mile from the Maine Turnpike, near Marketplace at Augusta, UMaine Augusta, and the Augusta Civic Center.
Key Highlights
- Three adjoining properties total approximately 1.46 acres and 6,459 square feet
- 4,280‑square‑foot building includes Sam's Italian Foods and J Salon
- Two‑story, 1,008‑square‑foot building has commercial space below and offices above
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$72,373
Cap Rate
4.82%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,447,460
$1.4M
Cap Rate 7%
$1,033,900
$1.0M
Cap Rate 9%
$804,144
$804.1K
Market Conditions
NOI Build-Up for 6,459 SF
Gross rent
$116.3K $18.00/SF
− Vacancy
−$19.8K −$3.06/SF
EGI
$96.5K $14.94/SF
− OpEx
−$24.1K −$3.74/SF
NOI
$72.4K $11.21/SF
Area
Kennebec County, ME
Vacancy
17.00%
Lease Rate
$18.00 /SF/Yr
Expense Ratio
25.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,447,460
Cap Rate 7%
$1,033,900
Cap Rate 9%
$804,144
Alternative Uses
Best Use
Specialty Retail
$1.03M
$904.7K – $1.21M
NOI $72,373 @ 7.0% cap · market cap 4.82%
Second Best
Mixed Use
$951.9K
$832.9K – $1.11M
NOI $66,633 @ 7.0% cap · market cap 4.44%
Theoretical Best
Warehouse
$9.64M
$8.43M – $11.24M
NOI $674,534 @ 7.0% cap · market cap 44.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Multi-tenant
Tenancy
Yes
Highway access
Location Intelligence
Trade Area within ½ mile
266
Businesses Nearby
498k
Monthly Visits Nearby
Explore this area
Business Placement
Foot Traffic Nearby
Superstores 41%
Dining 20%
Apparel 12%
Shops & Services 11%
Walmart
Superstores
126,105 visits/mo
0.3 miles
Sam's Club
Superstores
79,900 visits/mo
0.3 miles
Barnes & Noble
Shops & Services
32,968 visits/mo
0.1 miles
HomeGoods
Home Improvements & Furnishings
28,590 visits/mo
0.5 miles
Olive Garden
Dining
25,484 visits/mo
0.4 miles
Demographics for 04330, ME
26,322
Population
13,017
Households
2
Avg Household Size
44
Median Age
28%
College-Educated
95%
High-School Grad
116.9 sq mi
ZIP Area
225
Density / Sq Mi
$55,158
Median Household Income
$43,177
Median Earnings
$912
Median Rent
$197,600
Median Home Value
Market
Vacancy Rate% for Retail in Northeast region
Frequently Asked Questions
What type of property is this?
Mixed-use property - Three adjoining properties combine occupied commercial space, a vacant residence, and approved plans for replacement retail buildings.
Where is this mixed-use property located?
The property is located at 137-145 Civic Center Drive Augusta, ME.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: Three adjoining properties total approximately 1.46 acres and 6,459 square feet; 4,280‑square‑foot building includes Sam's Italian Foods and J Salon; Two‑story, 1,008‑square‑foot building has commercial space below and offices above
