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Chipotle, Playa Bowls & Jersey Mike's 507 Main St 5,363 SF 100% Leased Retail Building Saco, ME 04072 $3,612,179 ($673.54/SF) 6.15% Cap Rate
Investment Highlights
- Long Term Leases
- Minimal Landlord Responsibilities
- Strategic Retail Location
- Attractive Rent Increases
- Dynamic Tenant Roster
- Great Trade Area
Executive Summary
The Plaza is well located at the signalized intersection of Main Street (US Route 1) and Smith Lane and enjoys outstanding visibility, frontage and access. Positioned just north of Downtown Biddeford and Saco, the Property is 0.5 miles from Interstate 195 and 2 miles from Interstate 95, providing convenient access to Portland and Saco Bay, and connectivity throughout southern Maine. The site is also convenient to nearby residential neighborhoods, multifamily housing, and area schools, providing a built-in customer base. Saco is located in York County, approximately 15 miles south of Portland.
Property Facts
Amenities
- Pylon Sign
Major Tenants
- Tenant
- Industry
- SF Occupied
- Rent/SF
- Lease Type
- Lease End
-
- Accommodation and Food Services
- 2,563 SF
- -
- Double Net
- Mar 2033
Chipotle Mexican Grill began in 1993 when Steve Ells opened a restaurant in Denver, Colorado. The company focuses on burritos, tacos, bowls, and salads made with fresh ingredients. Customers can customize their orders while watching the food preparation. Chipotle operates thousands of locations internationally and emphasizes using real food without artificial additives. The chain has grown substantially since its founding and remains a major player in the fast-casual dining industry.
-
- Accommodation and Food Services
- 1,414 SF
- -
- Triple Net
- Jul 2033
Jersey Mike's Subs began as Mike's Subs in the 1950s in Point Pleasant, New Jersey, and later grew under Peter Cancro into a franchise business centered on submarine sandwiches made with fresh-sliced meats and bread baked in-store. Jersey Mike's Subs serves hot and cold subs, wraps, bowls, sides, drinks, desserts, kid's meals, and catering through its restaurants and digital ordering channels. Jersey Mike's Subs has expanded into a broad franchise network across the United States and Canada while keeping a menu built around "Mike's Way" preparations and made-to-order service.
- Playa Bowls
- Accommodation and Food Services
- 1,414 SF
- -
- Double Net
- Nov 2036
| Tenant | Industry | SF Occupied | Rent/SF | Lease Type | Lease End | |
|
|
Accommodation and Food Services | 2,563 SF | - | Double Net | Mar 2033 | |
|
|
Accommodation and Food Services | 1,414 SF | - | Triple Net | Jul 2033 | |
| Playa Bowls | Accommodation and Food Services | 1,414 SF | - | Double Net | Nov 2036 |
Nearby Major Retailers
Property Taxes
| Parcel Number | SACO-000033-000002-000001 | Improvements Assessment | $1,448,200 |
| Land Assessment | $1,660,800 | Total Assessment | $3,109,000 |
Property Taxes
Presented by
Chipotle, Playa Bowls & Jersey Mike's | 507 Main St
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