403 Water St Augusta, ME 04330

Property Details for 403 Water St

Year built

2007

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

1.36 lot acres

Property size

14,162 SF

Property type

Retail properties

APN

AUGU M:00033 B:00249 L:00000

APU

AUGUM00033B00249L00000

Description

This exceptional investment opportunity presents a 14,065 square foot Walgreens located at 403 Water St, Augusta, ME, 04330. The property boasts a strong 8.60% cap rate and a substantial net operating income (NOI) of $530,000. This absolute NNN (triple net) lease with Walgreens, a highly reputable tenant, ensures minimal landlord responsibilities. The lease has a remaining term of 8.7 years, extending to July 31, 2033, providing long-term financial stability. Built in 2007, this 100% occupied property sits on a 1.37-acre lot and benefits from its prime location. Situated just two blocks north of Maine's State Capitol Buildings, encompassing two campuses totaling 1.59 million square feet, the property enjoys high foot traffic and visibility. The proximity to Maine General Health's Augusta Hospital, the largest private employer in the region, further enhances its desirability. Augusta's designation as an Opportunity Zone adds to the investment's appeal. This strategically located property offers a compelling combination of strong tenant occupancy, a favorable lease structure, and significant growth potential within a thriving community. The property's location near government offices, a major hospital, and the city's downtown area ensures consistent customer traffic and long-term value. This is a rare opportunity to acquire a high-performing, low-maintenance investment property with a secure, long-term lease.

Location Insight

City

Augusta

County

Kennebec

State

Maine

Longitude

-69.7782

Latitude

44.3106

CBSA code

12300

CBSA name

AUGUSTA-WATERVILLE, ME MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments