Highlights
• 9% Cap Rate • Strong Tenant Profile: Backed by a personal guarantee and a proven five-year operating history. Tenant also leases the nearby facility at 414 Hill Street. • High-End Facility: Fully renovated, state-of-the-art cultivation facility completed in 2022, with several million dollars invested in upgrades. • Roof Improvements: Partial roof replacement completed in 2021 by Maine Roofing; remaining sections have been repaired, inspected, and are in good condition. • Infrastructure Upgrades: A new dedicated water line and full-building sprinkler system installed in 2021 by Eastern Sprinkler. • Modern Electrical Systems: Complete electrical overhaul in 2021, including back-up generators, a cutting-edge security system, and 3,200 amps of available power. • Licensed & Operational: Approved for adult-use cannabis cultivation and fully operational. • Strong Revenue Potential: The facility is projected to generate over $20 million in annual revenue. • Room for Growth: Potential expansion space for an additional 20,000 SF.
Description
419 Hill Street in Biddeford, Maine is a 28,119± square foot state-of-the-art recreational grow facility that boasts laboratory-grade fit-up with one of the top-tier cannabis companies in the State of Maine. The lease is secured with strong guarantees and strong escalators throughout the remaining 7-year term.
Listing Details
- Cap Rate
9.5%
- Tenancy
Single
- Space Type
industrial
- Sub Category
warehouse
- Date Listed
6/5/2025
- Net Operating Income
$340,111
- Ceiling Height / Slab to Slab
14 Ft
Property Specifics
- Property Name
419 Hill Street
- Year Built
1984
- Building Size
28,119 SF
- Lot Size
3.44 AC
- Year Renovated
1995
- Zoning
Industrial (I-2)