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80 Valley CircleRumford, ME 04276Price: $3,340,885

  • Price: $3,340,885
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Federal 30-year interest rate: 2.72% last updated on Nov 25, 2020
* All Figures are estimates. Check with your bank or proposed mortgage company for actual interest rates.
This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.
  • $3,340,885List Price
  • 9.86Acreage
  • 1968Year Built

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Rumford Plaza offers a rare combination value & yield play with an impressive tenant roll of Marden's (54% of space), Tractor Supply Company, Dollar Tree, Motion Industries and Carparts Stores.The shopping center is 100% leased with high barriers to entry as land and construction costs make new shopping centers cost prohibitive and a dearth of available properties capable of handling big box retailers Marden's and Tractor Supply.Marden's is a second-generation family-owned company with 14 locations throughout Maine. The Rumford store dominates its market; the nearest Marden's is 43 miles away. They have been a tenant since 2007 and just renewed their lease.Tractor Supply Company is the largest operator of rural lifestyle retail stores in America with 1,863 stores. It sports a valuation of $15.2 Billion and had 2019 NOI of $562 Million. They have been a tenant since 2013.Dollar Tree has 15,288 stores (39 in Maine) in North America. Fiscal year 2020 sales increased 52% since 2016 to $23.61 Billion. NOI is $827 Million. S&P rates it investment (BBB-) grade. They have been a tenant since 2005.Motion Industries, subsidiary of Genuine Parts Industries ('19 revenues of $19.4 Billion), distributes industrial replacement parts and materials throughout the region. They have been a tenant since 2009. Carparts Stores recently leased the former Olympia Sports 5,880 square foot space. Carparts has 20 stores in Maine, New Hampshire and Massachusetts and is part of the 4,000 +/- strong-Alliance buying group. Their new tenancy is a bullish signal of confidence in the local economy.Listed at $41.51/SF, a fraction of its replacement and land cost, yields a cap rate of 8.0% with new lease extension for Dollar Tree and new Motion Industries lease.2019 CAM was low at $1.48/SF.Rumford Plaza is an investment opportunity providing a steady yield with long-term growth potential. It's an ideal 1031 exchange.

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Listed by Bean Group

Listing data is derived in whole or in part from the Maine IDX & is for consumers' personal, non commercial use only. Dimensions are approximate and not guaranteed. All data should be independently verified. ©2020 Maine Real Estate Information System, Inc. All Rights Reserved. equal opportunity housing logo   Privacy Policy

Swift River Properties participates in MREIS' Maine Internet Data Exchange (Maine IDX) program, allowing us to display other Maine IDX Participants' listings. This website does not display complete listings. Certain listings of other real estate brokerage firms have been excluded. Mortgage figures are estimates. Check with your bank or proposed mortgage company for actual interest rates. This product uses the FRED® API but is not endorsed or certified by the Federal Reserve Bank of St. Louis.

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