1 Pionite Rd Auburn, ME 04210-3800
- Industrial properties
- 511,690 SF
- 139.18 lot acres
Current Use by Public Records
- Panolam Surface Systems / Plastic Fabrication Company / Manufacturer
- Pioneer Plastics / Plastic Products Wholesaler
Property Details for 1 Pionite Rd
- Year built
- 1965
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 139.18 lot acres
- Property size
- 511,690 SF
- Property type
- Industrial properties
- APN
- AUBN M:188 L:013
- APU
- AUBNM188L013
Description
This exceptional investment opportunity presents a portfolio of two industrial warehouses totaling 755,788 square feet situated on 180.69 acres across two prime locations: Auburn, Maine, and Morristown, Tennessee. The properties are offered as a sale-leaseback with a 20-year absolute triple net (NNN) lease, featuring a 2.5% annual rent increase. The tenant, a leader in surfacing solutions with a 70+ year history, occupies both facilities, which house $23.6 million in machinery and equipment and employ nearly 400 people. These facilities generate 100% of the tenant's revenue, mitigating customer concentration risk as the largest customer accounts for only 0.5% of sales. The sale proceeds will entirely pay down corporate debt. The lease includes four, 5-year renewal options, providing long-term stability and predictable cash flow. Both properties are located in robust industrial markets characterized by low vacancy rates and significant rent appreciation potential. The portfolio is available for purchase as a whole, in sub-portfolios, or as individual properties. The current Net Operating Income (NOI) stands at $3,776,342.
Value Estimations
-
AI approach
- Method
- Estimation
- ML approach
- $1,020,000
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Location Insight
- Map
- Local Demand
- City
- Auburn
- County
- Androscoggin
- State
- Maine
- Longitude
- -70.2563
- Latitude
- 44.0664
- CBSA code
- 30340
- CBSA name
- LEWISTON-AUBURN, ME METROPOLITAN STATISTICAL AREA
