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Fully-Leased, Single-Tenant State Office Buil 76 Northern Ave

48,711 SF Office Building Gardiner, ME 04345 £4,023,900 (£83/SF) 7.26% Net Initial Yield

Executive Summary

76 Northern Avenue is a fully-leased, office building in Gardiner, ME leased to the Department of Professional & Financial Regulation which includes agencies such as the Office of Securities, Bureau of Insurance, Bureau of Financial Institutions and the Bureau of Consumer Credit Protection.
48,771± SF, fully-leased state office building on 9.5± acres
Less than a mile t o downtown Gardiner and directly off Maine Avenue/Rte 201.
Approximately $1,500,000 in renovations completed in 2022 & 2023
Renovations include new interior paint, carpet, windows, etc.
Fully leased through 12/31/2033.
Estimated NOI: $370,386
Cap Rate: 7.3%
Sale Price: $5,100,000

Attachments

Flyer_76 Northern Ave Gardiner
CONFIDENTIALITY AGREEMENT - Principal

Property Facts

Sale Type
Investment
Property Type
Office
Building Size
48,711 SF
Building Class
C
Year Built/Renovated
1960/2023
Price
£4,023,900
Price Per SF
£83
Net Initial Yield
7.26%
NOI
£292,235
Tenancy
Single
Number of Floors
1
Typical Floor Size
48,711 SF
Building FAR
0.12
Land Acres
9.50 AC
Zoning
HDR - High Density Residential
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(207) 557-3513

  • Listing ID: 31654968

  • Date on Market: 30/04/2024

  • Last Updated:

  • Address: 76 Northern Ave, Gardiner, ME 04345

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© 2024 CoStar Group

Fully-Leased, Single-Tenant State Office Buil | 76 Northern Ave
(207) 557-3513 x

Fully-Leased, Single-Tenant State Office Buil | 76 Northern Ave

Nick Lucas

(207) 557-3513

(207) 557-3513

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