10 Davis Street Presque Isle, MN 04769

Property Details for 10 Davis Street

Year built

1966

Lot size

1.15 lot acres

Property size

6,590 SF

Zone code

URBAN

Property type

Commercial real estate

APN

PREE M:044 B:057 L:010

APU

PREEM044B057L010

Description

This exceptional 6,748 square foot retail storefront, located at 10 Davis St in Presque Isle, Maine, presents a compelling investment opportunity. Currently vacant, the property boasts a strong asking price of $848,560, translating to $125.75 per square foot. The building sits on a sizable 1.15-acre lot in a prime downtown location, offering excellent visibility and accessibility. With a substantial net operating income (NOI) of $74,820 and an attractive 8.82% cap rate, this property promises strong returns. Its strategic location along Main Street provides easy access to a high volume of traffic and is conveniently situated just five minutes from Presque Isle International Airport. The property benefits from a strong tenant mix in the immediate vicinity, including well-known national brands such as Shell, McDonald's, Subway, Verizon, and Walmart. This presents a rare chance to acquire a well-positioned retail space in a thriving Maine community. The property is currently vacant, but the previous tenant, Aaron's, has a lease that extends for a portion of the next four years. This provides an opportunity for immediate income generation or the ability to secure a new tenant upon lease expiration. The property's size and location make it suitable for a variety of retail uses. This is an ideal investment for those seeking a high-return property in a desirable location. The zip code is 04769.