76 Northern Ave Gardiner, ME 04345
- Office buildings
- 52,045 SF
- 9.50 lot acres
Current Use by Public Records
- Office buildings
Property Details for 76 Northern Ave
- Year built
- 1960
- Construction
- MASONRY/CONCRETE MASONRY UNITS (CMUS)
- Lot size
- 9.50 lot acres
- Property size
- 52,045 SF
- Zone code
- 17
- Property type
- Office buildings
- APN
- GARR M:038 B:005
- APU
- GARRM038B005
Description
This exceptional investment opportunity presents a fully-leased, single-tenant Class B office building situated on a generous 9.5-acre lot at 76 Northern Avenue in Gardiner, Maine. The property, totaling approximately 48,771 square feet, is currently leased to the Maine Department of Professional & Financial Regulation, securing a long-term lease extending through December 31, 2033. Significant renovations were completed in 2022 and 2023, encompassing interior paint, carpeting, and window replacements, totaling approximately $1,500,000 in improvements. The building boasts a strong 7.3% cap rate and a Net Operating Income (NOI) of $370,386, making it an attractive investment prospect. Conveniently located less than a mile from downtown Gardiner and directly off Maine Avenue/Route 201, this property benefits from excellent accessibility and visibility. The property is zoned HDR (High Density Residential), offering potential future development options. The asking price is $5,100,000. This is a rare opportunity to acquire a stable, high-performing investment property with significant upside potential. The property features one building, one story, and was originally built in 1960. The Assessor's Parcel Number (APN) is 38/05.
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
- Gardiner
- County
- Kennebec
- State
- Maine
- Longitude
- -69.7784
- Latitude
- 44.2358
- CBSA code
- 12300
- CBSA name
- AUGUSTA-WATERVILLE, ME MICROPOLITAN STATISTICAL AREA
