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Rite Aid 210 Main St 14,673 SF Retail Building Waterville, ME 04901 $7,190,000 ($490.02/SF) 10% Cap Rate
Executive Summary
Walgreens | 10% Capitalization Rate
Corporate-backed Walgreens located at 210 Main Street in Waterville, Maine, with over four years remaining on a triple net lease and six 5-year renewal options.
The current annual rent is $718,391 with scheduled increases over the option periods.
The 14,673 SF building, constructed in 2009, sits on a 2.23-acre parcel and offers stable cash flow backed by a nationally recognized tenant.
Waterville is a hub in Central Maine, bolstered by recent investments, revitalization efforts, and growing healthcare and education sectors. The city is also home to two well-known institutions of higher learning: Colby College and Thomas College, which contribute to a strong local workforce, steady population base, and consistent demand for goods and services. The property’s strategic location and solid lease fundamentals make it a compelling net lease investment opportunity.
Corporate-backed Walgreens located at 210 Main Street in Waterville, Maine, with over four years remaining on a triple net lease and six 5-year renewal options.
The current annual rent is $718,391 with scheduled increases over the option periods.
The 14,673 SF building, constructed in 2009, sits on a 2.23-acre parcel and offers stable cash flow backed by a nationally recognized tenant.
Waterville is a hub in Central Maine, bolstered by recent investments, revitalization efforts, and growing healthcare and education sectors. The city is also home to two well-known institutions of higher learning: Colby College and Thomas College, which contribute to a strong local workforce, steady population base, and consistent demand for goods and services. The property’s strategic location and solid lease fundamentals make it a compelling net lease investment opportunity.
Property Facts
Sale Type
Investment NNN
Property Type
Retail
Property Subtype
Drug Store
Building Size
14,673 SF
Building Class
B
Year Built
2009
Price
$7,190,000
Price Per SF
$490.02
Cap Rate
10%
NOI
$719,000
Tenancy
Single
Building Height
1 Story
Slab To Slab
12’
Building FAR
0.15
Lot Size
2.23 AC
Opportunity Zone
Yes
Zoning
Commercial-A
Parking
69 Spaces (4.7 Spaces per 1,000 SF Leased)
Frontage
Amenities
- Drive Thru
Fairly walkable
50/100
Very drivable
80/100
Fairly bikeable
40/100
Nearby Major Retailers
Property Taxes
| Parcel Number | WAVL-000048-000000-000328 | Improvements Assessment | $1,573,800 |
| Land Assessment | $434,700 | Total Assessment | $2,008,500 |
Property Taxes
Parcel Number
WAVL-000048-000000-000328
Land Assessment
$434,700
Improvements Assessment
$1,573,800
Total Assessment
$2,008,500
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Rite Aid | 210 Main St
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