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Property summary
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.
Property profile
VerifiedCap rate & NOI
Current use
-
(Bike/Boat/Book/etc) Store
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Industrial Manufacturer
Location
Value estimations
Owner & transaction history
Zoning & alternative use
A more defined industrial zone that allows for selected industrial uses, Requires review or recommendation by the Economic Improvement Commission
Comparables
6 recent transactions · within 1.5 miComparable in this City
Similar Nearby for Sale
Similar Nearby for Lease
Value estimation
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Cap rate
Cap rate calculated from real income and expense signals, benchmarked against sales of similar assets nearby.
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Price sensitivity
The rate is the decision lever; valuation is the consequence.
Property tax & assessments
Tax year 2023Property description
Physical attributes from public recordsZoning & alternative use
I2 · Biddeford, MEA more defined industrial zone that allows for selected industrial uses, Requires review or recommendation by the Economic Improvement Commission
Zoning
The recorded zoning designation, what the district officially allows, and the municipal source it comes from.
Zoning designation
Official district profile
A more defined industrial zone that allows for selected industrial uses, Requires review or recommendation by the Economic Improvement Commission
What can be built and operated here — officially.
The district profile from the municipal source: what is on file for I2 in Biddeford, ME.
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