419 Hill St Biddeford, ME 04005

Property Details for 419 Hill St

Year built

1985

Construction

STEEL FRAME

Lot size

3.44 lot acres

Property size

28,119 SF

Zone code

I2

Property type

Life science properties

APN

BIDD M:74 L:9

APU

BIDDM74L9

Description

This exceptional investment opportunity presents a 28,119 square foot industrial warehouse located at 419 Hill Street in Biddeford, Maine. The property, built in 1984 and extensively renovated in 1995 and 2022, boasts a 9% cap rate and a strong net operating income (NOI) of $340,111.37. Currently leased under a triple-net (NNN) lease with a single tenant for a 10-year term commencing October 30, 2020, and expiring December 30, 2029, this property offers significant long-term stability. The warehouse features 14-foot ceilings, one loading dock, and three dock-high doors. The 3.44-acre lot provides ample space, and parking is available at a rate of 100,000 spaces per 1,000 square feet. Significant improvements include a full building sprinkler system (installed 2021), a new dedicated water line (2021), all new electrical in 2021 (including backup generators and a state-of-the-art security system), and a roof section replacement in 2021. The property is zoned Industrial (I-2) and offers potential for expansion by an additional 20,000 square feet. The asking price is $3,800,000. This fully renovated, state-of-the-art facility presents a compelling investment opportunity with a proven track record and significant upside potential. The tenant has a strong financial profile and personal guarantee.

Location Insight

City

Biddeford

County

York

State

Maine

Longitude

-70.4774

Latitude

43.4655

CBSA code

38860

CBSA name

PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA

Property Tax & Assessments