1029-1041 Main St Waterboro, ME 04087

This exceptional Class A, 10,112 square foot retail center in Waterboro, Maine presents a compelling 1031 exchange opportunity. The fully-leased, multi-tenant property boasts a strong 8.52% cap rate and a substantial net operating income (NOI) of $149,096, with a remaining lease term of 5 years. Currently housing three tenants in a 100% occupied building constructed in 2019, this property sits on a 9.6-acre lot (APN 1686) in the Village zoning district, offering significant potential for future development. Conditional approvals are in place for Phases 2 and 3, allowing for expansion into light industrial, storage, professional, retail, office, or residential uses, addressing a current market shortage of such spaces. The asking price is $1,750,000, translating to a land value of $175.28 per square foot. The property's strategic location on Main Street (1029-1041), near established businesses like Family Dollar and Ace Hardware, ensures high visibility and accessibility. The cost to replicate this property significantly exceeds the asking price, making this a truly valuable investment opportunity with both immediate yield and long-term upside potential. The Town of Waterboro's business-friendly approach further enhances the investment prospects, potentially accommodating adjustments to building dimensions to suit a buyer's vision. This NNN leased property offers a secure, high-return investment with significant future development possibilities.