131 Ct St Bath, ME 04530-2054
- Retail space
- 12,012 SF
- 1.79 lot acres
Current Use by Public Records
- Retail space
Property Details for 131 Ct St
- Year built
- 2017
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 1.79 lot acres
- Property size
- 12,012 SF
- Zone code
- C4
- Property type
- Retail space
- APN
- BTTH M:28 L:081
- APU
- BTTHM28L081
Description
This exceptional investment opportunity presents a fee-simple, single-tenant retail property leased to CVS Pharmacy. Located at 131 Court St, Bath, ME 04530, this 12,012 square foot building sits on a 1.79-acre lot (77,972 sq ft) and boasts a convenient drive-thru pharmacy. The property, built in 2018, benefits from a high-traffic location on Highway 1, experiencing over 33,000 vehicles daily. The absolute NNN lease, with a corporate guarantee from CVS Health Corporation, ensures zero landlord responsibilities. The lease commenced October 17, 2019, and has a remaining term of 20.2 years, expiring January 31, 2045, with ten 5-year options. The property features 63 parking spaces and is zoned C4. The asking price is $7,487,627, translating to $623.35 per square foot. The current Net Operating Income (NOI) stands at $425,121. This zero cash flow investment offers significant passive loss benefits, ideal for tax-deferred exchanges. The existing loan fully amortizes at lease expiration, minimizing equity requirements. This is a truly passive investment with a strong corporate tenant and a long-term lease. The property's strong financials and location make it a compelling addition to any portfolio.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Bath
- County
- Sagadahoc
- State
- Maine
- Longitude
- -69.8258
- Latitude
- 43.9096
- CBSA code
- 38860
- CBSA name
- PORTLAND-SOUTH PORTLAND-BIDDEFORD, ME METROPOLITAN STATISTICAL AREA
