406 Main St Bingham, ME 04920
- Retail properties
- 9,100 SF
- 1.70 lot acres
Current Use by Public Records
- Retail properties
Property Details for 406 Main St
- Year built
- 2018
- Lot size
- 1.70 lot acres
- Property size
- 9,100 SF
- Property type
- Retail properties
- Property subtype
- Retail space
Description
This exceptional investment opportunity presents a fee-simple ownership of a 9,100 square foot Dollar General store in Bingham, Maine. Built in 2018, this single-story building sits on a 1.7-acre lot and is currently operating under a 15-year absolute NNN lease with a corporate guarantee, providing zero landlord responsibilities. The lease commenced October 31, 2018, and has 9 years remaining, with 10% rent bumps at the start of each option period. The property boasts a 7.50% cap rate and a strong NOI of $104,288. Located at 406 Main St, Bingham, ME 04920, this strategically positioned store serves as the only Dollar General within a 30-mile radius, benefiting from its proximity to North Country Rivers, a major outdoor adventure resort. The property's oversized lot and recent construction, combined with the tenant's investment-grade credit and the essential nature of its retail business, make this a compelling investment opportunity in a growing Maine economy experiencing significant clean energy investment. The offering memorandum provides complete lease details.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bingham
- County
- Somerset
- State
- Maine
- Longitude
- -69.8835
- Latitude
- 45.0642
