Rent A Center & Aubuchon Hardware
15,580 SF | Retail Building | Rumford, ME 04276 | $1,132,573 ($73/SF) | 7.50% Cap Rate
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $1,132,573
- Property Type
-
Retail
- Square Feet
- 15,580 SF
- Price / Square Foot
- $73
Listing Contacts
Jeremy Cyrier
Verified Profile
Taylor Saulnier
Verified Profile
- Property Info
Property Overview
MANSARD is pleased to present 65 Falmouth Street, a 100% leased investment that features two long term creditworthy tenants. Rent-A-Center (2,100 Locations) & Aubuchon Hardware (110 Locations) have both occupied this site for 20+ years, demonstrating their dedication to the location. Rent-A-Center has executed 4 options to renew since their lease commenced in May 2002, with one 5 year option remaining. Aubuchon Hardware has also shown dedication to this location for over 20 years. Aubuchon chose to exercise their last 5-year option ahead of schedule, extending their lease from January 1, 2028, to December 31, 2032. This beneficial early extension of their lease included 5 additional 5-year renewal options with scheduled annual increases, demonstrating their long-term commitment to the site. Aubuchons options periods would provide rent potential rent through 2052. Inquire with MANSARD for more information.
Property Details
- Class
- C
- Year Built
- 2004
- Stories
- 1
- Property Subtype
- Freestanding, Showroom, Grocery/Convenience Store
- Lot Size (sq. ft)
- 57,499 SF
Highlights
- $84,943 NOI - 100% Leased to Rent A Center & Aubuchon Hardware
- Secure Rental Income from Two Top Tier Tenants Both with 20+ Years of Tenancy Onsite
- RAC Lease Runs through 6/2027 with a 5 Year Option thru 2032 @ a 15% Rent Increase
- Aubuchon Lease Runs through 12/2032 with Five, 5 Year Options to Renew @ 2% Annual Increases
- Both Tenants Benefit from Low Rent, Long Term Established Location and Limited Area Competition
- Minimal Landlod Responsibilities. Brand New Parking lot in 2019 ($62,000)
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