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    76 Northern Ave Gardiner, ME 04345

    Sponsored
    For Sale
    $5,100,000

    Fully-leased, high-return investment.

    Description

    Added:
    Dec 11, 2024
    Days on Market:
    392
    This exceptional investment opportunity presents a fully-leased, single-tenant Class B office building situated on a generous 9.5-acre lot at 76 Northern Avenue in Gardiner, Maine. The property, totaling approximately 48,771 square feet, is currently leased to the Maine Department of Professional & Financial Regulation, securing a long-term lease extending through December 31, 2033. Significant renovations were completed in 2022 and 2023, encompassing interior paint, carpeting, and window replacements, totaling approximately $1,500,000 in improvements. The building boasts a strong 7.3% cap rate and a Net Operating Income (NOI) of $370,386, making it an attractive investment prospect. Conveniently located less than a mile from downtown Gardiner and directly off Maine Avenue/Route 201, this property benefits from excellent accessibility and visibility. The property is zoned HDR (High Density Residential), offering potential future development options. The asking price is $5,100,000. This is a rare opportunity to acquire a stable, high-performing investment property with significant upside potential. The property features one building, one story, and was originally built in 1960. The Assessor's Parcel Number (APN) is 38/05.

    Property Features for 76 Northern Ave

    General Information

    Property type
    Office Properties & Spaces
    Class
    B
    Lot Size
    413,820 SF

    Building Details

    Year Built/Renovated
    1960/2022
    Buildings
    1
    Stories
    1
    Units
    1

    HighLights

    • 48,771 SF, fully‑leased Class B office building on a 9.5‑acre lot.
    • Located less than one mile from downtown Gardiner, Maine, with excellent access to Route 201.
    • $1,500,000 in renovations completed in 2022 and 2023, including interior paint, carpeting, and windows.
    • Leased to the Maine Department of Professional & Financial Regulation through December 31, 2033.
    • $5,100,000 asking price, with a 7.3% cap rate and $370,386 NOI.
    Property Profile Location Intelligence

    Current Use by Public Records

    Commercial real estate

    Suggested Use

    Restaurant Realty agency Law Firm Building Supply Spa & Massage Wholesale Shop Auto Repair Shop Hair Salon Clothing Store Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Gardiner
    County
    Kennebec
    State
    Maine
    Longitude
    -69.77922618885
    Latitude
    44.236444541873

    Nearby Comparable

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    Nearby Similar for Sale

    • $265,455
      1,024 SF

      Gardiner Ranch Style Multi-Family

      Two-unit apartment building in a convenient location.
      25 Middle St, Gardiner, ME 04345
      View Details
    • New
      $244,800
      4,513 SF

      Former Office/Retirement Home in Gardiner

      Spacious 4,500+ sq ft building near downtown Gardiner amenities.
      36 Brunswick Ave, Gardiner, ME 04345
      View Details
    • New
      $244,800
      4,513 SF

      Gardiner Multifamily Property For Sale

      Former office/retirement home near downtown Gardiner, being sold as-is.
      36 Brunswick Ave, Gardiner, ME 04345
      View Details
    • $625,000
      2,876 SF

      New Duplex Near Trade School

      New energy-efficient duplex with garages, close to highway and school.
      33 Ash St, Gardiner, ME 04345
      View Details
    • $540,000

      Mixed-Use Property in Downtown Gardiner

      Mixed-use property with retail and residential income potential.
      177 Water St, Gardiner, ME 04345
      View Details
    • $5,100,000
      48,771 SF

      Fully Leased Gardiner Office Building

      48,771 SF office building fully leased through 2033.
      76 Northern Ave, Gardiner, ME 04345
      View Details
    • $499,900
      11,340 SF

      Downtown Gardiner Mixed-Use Building

      Mixed-use building in downtown Gardiner with income potential.
      218 Water St, Gardiner, ME 04345
      View Details

    FAQs

    What type of property is this?
    Office Property / Space - Fully-leased, high-return investment.
    Where is this office property / space located?
    The property is located at 76 Northern Ave Gardiner, ME.
    What is the asking price?
    The asking price for this property is $5,100,000.
    What are key features of this property?
    This property features: 48,771 SF, fully-leased Class B office building on a 9.5-acre lot.; Located less than one mile from downtown Gardiner, Maine, with excellent access to Route 201.; $1,500,000 in renovations completed in 2022 and 2023, including interior paint, carpeting, and windows.
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    Gardiner, ME 04345
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    Realmo Value Estimation

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.

    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.

    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

    More about this property
    76 Northern Ave Gardiner, ME 04345
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