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202, 400 and 409 Industrial Park Street 3 Industrial Properties Offered at $6,400,000 in Pittsfield, ME
Investment Highlights
- ±18.5-year, net-leased industrial investment opportunity
- Absolute Net lease structure | Zero landlord responsibilities
- Supply-constrained industrial submarket | Zero construction and minimal vacancy within 10-mile radius
- 2.50% annual rental escalations
- Tenant: Walpole Outdoors, LLC | 24 locations in 12 states
- Immediate access to Interstate-95 (I-95)
Executive Summary
The Doughty Industrial Group of Marcus & Millichap is pleased to present the sale offering of 202, 400 and 409 Industrial Park Street, a three-building single-tenant absolute net leased industrial investment opportunity in Pittsfield, Maine.
Investment Overview
The opportunity is located within a supply-constrained market boasting minimal vacancy and offers immediate access to Interstate-95. The buildings sit approximately 35 miles west of Bangor, Maine, less than a 40-minute drive. The purchase of this offering presents an investor with the opportunity to own an industrial asset with zero landlord responsibilities in a supply-constrained market with. At the current list price of $6,400,000 the investment offering will generate an in-place net operating income of $518,582 in Year 1, which equates to a capitalization rate of 8.10%.
Tenant Profile
Walpole Outdoors, LLC is a leading designer, manufacturer, and installer of high-quality outdoor structures and products. The New England-based company operates multiple locations throughout the Northeast and Florida. Their product lines include cedar fencing, pergolas, arbors, gates, and outdoor furniture, along with custom designs in cedar and low-maintenance cellular vinyl. The company serves both residential and commercial clients with a strong emphasis on craftsmanship.
Investment Overview
The opportunity is located within a supply-constrained market boasting minimal vacancy and offers immediate access to Interstate-95. The buildings sit approximately 35 miles west of Bangor, Maine, less than a 40-minute drive. The purchase of this offering presents an investor with the opportunity to own an industrial asset with zero landlord responsibilities in a supply-constrained market with. At the current list price of $6,400,000 the investment offering will generate an in-place net operating income of $518,582 in Year 1, which equates to a capitalization rate of 8.10%.
Tenant Profile
Walpole Outdoors, LLC is a leading designer, manufacturer, and installer of high-quality outdoor structures and products. The New England-based company operates multiple locations throughout the Northeast and Florida. Their product lines include cedar fencing, pergolas, arbors, gates, and outdoor furniture, along with custom designs in cedar and low-maintenance cellular vinyl. The company serves both residential and commercial clients with a strong emphasis on craftsmanship.
Property Facts
| Price | $6,400,000 | Number of Properties | 3 |
| Price / SF | $64.18 / SF | Individually For Sale | 0 |
| Cap Rate | 8.10% | Total Building Size | 99,716 SF |
| Sale Type | Investment | Total Land Area | 30.54 AC |
| Status | Active |
| Price | $6,400,000 |
| Price / SF | $64.18 / SF |
| Cap Rate | 8.10% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 3 |
| Individually For Sale | 0 |
| Total Building Size | 99,716 SF |
| Total Land Area | 30.54 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 400 Industrial Park St, Pittsfield, ME 04967 | Industrial | 43,000 SF | 1985 | - |
| 202 Industrial Park St, Pittsfield, ME 04967 | Industrial | 36,716 SF | 1979 | - |
| 409 Industrial Park St, Pittsfield, ME 04967 | Industrial | 20,000 SF | 1985 | - |
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202, 400 and 409 Industrial Park Street
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