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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 as a fast-casual restaurant chain built around burritos and tacos, and the business has grown into a broader Mexican-inspired menu that also includes bowls, quesadillas, and salads. Chipotle Mexican Grill owns and operates restaurants and supports digital ordering, delivery or pickup, catering, group ordering, rewards, and other guest-facing services through its consumer channels. Chipotle Mexican Grill's purpose centers on cultivating a better world, with values tied to real ingredients, responsible sourcing, and an employee culture built around respect and inclusion. The company continues to expand its restaurant footprint, and digital sales remain a meaningful part of revenue.
-
- Accommodation and Food Services
- 1,414 SF
- -
- Triple Net
- Jul 2033
Founded in 1956 as Mike's Subs in Point Pleasant, New Jersey, the business grew from a small seaside sandwich shop into a franchised restaurant brand. Jersey Mike's focuses on submarine sandwiches prepared in store with sliced meats and cheeses, baked bread, and customizable toppings. The company has expanded across the United States and into international markets while keeping its core menu centered on cold subs, hot subs, chicken, salads, sides, catering, and digital ordering options. The brand's service style emphasizes made-to-order sandwiches and a preparation method known as Mike's Way.
- 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
