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461 Main St
Saco, ME 04072
Retail Property For Sale
Executive Summary
Subject property is located at 461 Main St in Saco Maine. Current tenant is Walgreens with a 20 year initial lease term and (4) 5 year renewal options. Walgreens is currently in their second renewal option, set to expire on 2/28/2027. Walgreens is the only national Drug Store in Saco, ME!
Building was built in 1997 and is 11,180 +/- SF on 2.22 AC of land. The property has 57+/- parking spots.
Subject property is located on Route 1 with high traffic counts. The average daily traffic count is 22,440!
Landlord is responsible for the roof and structure of the building and parking lot.
Rent is as follows:
Option 2 (2022-2027) – $223,041 Annually
Option 3 (2027-2032) -$234,221 Annually
Option 4 (2032-2037) – $245,401 Annually
*Walgreens has a restriction on 2-mile radius of property for drugstore, beauty and health products.
Located across from Thornton Academy High School, a private day and boring school for grades 6-12. It is the largest independent school in Maine serving 1,600 local and interrelation students!
Property is available for Sale or For Lease!
Building was built in 1997 and is 11,180 +/- SF on 2.22 AC of land. The property has 57+/- parking spots.
Subject property is located on Route 1 with high traffic counts. The average daily traffic count is 22,440!
Landlord is responsible for the roof and structure of the building and parking lot.
Rent is as follows:
Option 2 (2022-2027) – $223,041 Annually
Option 3 (2027-2032) -$234,221 Annually
Option 4 (2032-2037) – $245,401 Annually
*Walgreens has a restriction on 2-mile radius of property for drugstore, beauty and health products.
Located across from Thornton Academy High School, a private day and boring school for grades 6-12. It is the largest independent school in Maine serving 1,600 local and interrelation students!
Property is available for Sale or For Lease!
Property Facts
Sale Type
Investment or Owner User
Property Type
Retail
Property Subtype
Drug Store
Building Size
11,180 SF
Building Class
B
Year Built
1997
Price
$4,500,000
Price Per SF
$402.50
Cap Rate
4.96%
NOI
$223,041
Tenancy
Single
Building Height
1 Story
Building FAR
0.11
Lot Size
2.24 AC
Opportunity Zone
Yes
Zoning
N/Av, Saco
Parking
40 Spaces (3.58 Spaces per 1,000 SF Leased)
Frontage
243’ on Main St
Property Taxes
| Parcel Number | SACO-000033-000024 | Improvements Assessment | $1,910,200 |
| Land Assessment | $1,080,800 | Total Assessment | $2,991,000 |
Property Taxes
Parcel Number
SACO-000033-000024
Land Assessment
$1,080,800
Improvements Assessment
$1,910,200
Total Assessment
$2,991,000
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