60 Me-236 Berwick, ME 03901

Property Details for 60 Me-236

Year built

1989

Lot size

0.94 lot acres

Property size

2,689 SF

Property type

Retail properties

Property subtype

Retail space

Description

This exceptional investment opportunity presents a fee-simple interest in a thriving, single-tenant cannabis dispensary in Berwick, Maine. The property, located at 60 ME-236, boasts a 2,689 square foot building on a 0.94-acre lot, strategically positioned near the New Hampshire border. Silver Therapeutics, a reputable multi-state operator, occupies the space under a 15-year absolute NNN lease (commencing September 1, 2024, and expiring August 31, 2039), featuring a robust 3% annual rent increase. The property benefits from a strong 9.25% cap rate and a substantial $220,000 annual net operating income (NOI). Built in 1989 and renovated in 2021, the two-story building includes 35 parking spaces and is situated in a high-traffic area with excellent visibility. The lease includes two five-year renewal options, each requiring 365 days' notice. The property is zoned R1 and offers a compelling investment opportunity due to its secure lease terms, strong tenant, and prime location within a growing market. The dispensary benefits from its proximity to major transportation routes, including U.S. Route 4 and Interstate 95 (within 12 miles), and serves a population of 44,972 within a 5-mile radius, boasting an average household income of $90,315. This presents a rare chance to acquire a stable, high-return investment in the burgeoning cannabis industry. The tenant is backed by a corporate guarantee, ensuring financial stability.

Location Insight

City

Berwick

County

York

State

Maine

Longitude

-70.8481

Latitude

43.2628