Freestanding Retail Building
For Sale
$1,537,237
2 West Broadway, Lincoln, ME 04457
12,967 SF retail building leased to Walgreens.
Property Size12,967 SF
Price / SF$118.55
Days on Market212
Property Features for 2 West Broadway
General Information
Standard status
Active
Size
12,967 SF
Property subtype
Retail - Freestanding
Building Details
Building Size
12,967 SF
Year Built
1998
Listing Agency:
The Boulos Company
Listed By:
Chris Paszyc, CCIM, SIOR · License #BR913433
Source:
Commercialcafe
Added: Mar 26
Changed: Oct 22
Last Checked: Oct 23 at 3:59AM
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 The Boulos Company
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This is a 12,967 square foot freestanding retail building. The property is currently leased to Walgreens. It is located at the intersection of West Broadway and Main Street.
Key Highlights
- Freestanding retail building
- Leased to Walgreens
- Located at the intersection of West Broadway and Main Street
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$108,487
Cap Rate
7.06%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,169,740
$2.2M
Cap Rate 7%
$1,549,814
$1.5M
Cap Rate 9%
$1,205,411
$1.2M
Market Conditions
NOI Build-Up for 12,967 SF
Gross rent
$186.7K $14.40/SF
− Vacancy
−$31.7K −$2.45/SF
EGI
$155.0K $11.95/SF
− OpEx
−$46.5K −$3.59/SF
NOI
$108.5K $8.37/SF
Area
Penobscot County, ME
Vacancy
17.00%
Lease Rate
$14.40 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,169,740
Cap Rate 7%
$1,549,814
Cap Rate 9%
$1,205,411
Alternative Uses
Best Use
Specialty Retail
$2.52M
$2.21M – $2.94M
NOI $176,646 @ 7.0% cap · market cap 11.49%
Second Best
Retail
$1.55M
$1.36M – $1.81M
NOI $108,487 @ 7.0% cap · market cap 7.06%
Theoretical Best
Office A
$4.19M
$3.66M – $4.89M
NOI $293,158 @ 7.0% cap · market cap 19.07%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Property Analytics
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Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
227
Businesses Nearby
2k
Monthly Visits Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Shops & Services 100%
Thornton Brothers Chrysler Dodge Jeep Ram
Shops & Services
1,136 visits/mo
0.3 miles
Pelletier Ford Of Lincoln
Shops & Services
1,129 visits/mo
0.2 miles
Demographics for 04457, ME
5,689
Population
3,587
Households
1.6
Avg Household Size
48
Median Age
21%
College-Educated
94%
High-School Grad
258.8 sq mi
ZIP Area
22
Density / Sq Mi
$51,403
Median Household Income
$32,646
Median Earnings
$647
Median Rent
$126,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Retail in Northeast region
Similar Off Market Nearby
- Walgreens Pharmacy — 2 W Broadway, Lincoln, ME 04457
- COVID-19 Drive-Thru Testing at Walgreens — 2 W Broadway, Lincoln, ME 04457
- Walgreens — 2 W Broadway, Lincoln, ME 04457
- Derek Joseph — 2 W Broadway, Lincoln, ME 044571247
Frequently Asked Questions
What type of property is this?
Drug store - 12,967 SF retail building leased to Walgreens.
Where is this drug store located?
The property is located at 2 West Broadway Lincoln, ME.
What is the asking price?
The asking price for this property is $1,537,237.
What are key features of this property?
This property features: Freestanding retail building; Leased to Walgreens; Located at the intersection of West Broadway and Main Street
