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Fully-Leased, Single-Tenant State Office Buil 76 Northern Ave 48,711 SF Office Building Gardiner, ME 04345 $5,100,000 ($104.70/SF) 7.26% Cap Rate
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
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
PROPERTY FACTS
Sale Type
Investment
Property Type
Office
Building Size
48,711 SF
Building Class
C
Year Built/Renovated
1960/2023
Price
$5,100,000
Price Per SF
$104.70
Cap Rate
7.26%
NOI
$370,386
Tenancy
Single
Building Height
1 Story
Typical Floor Size
48,711 SF
Building FAR
0.12
Lot Size
9.50 AC
Zoning
HDR - High Density Residential
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PROPERTY TAXES
| Parcel Number | GARR-000038-000000-000005 | Improvements Assessment | $2,480,200 |
| Land Assessment | $72,100 | Total Assessment | $2,552,300 |
PROPERTY TAXES
Parcel Number
GARR-000038-000000-000005
Land Assessment
$72,100
Improvements Assessment
$2,480,200
Total Assessment
$2,552,300
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Fully-Leased, Single-Tenant State Office Buil | 76 Northern Ave
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