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419 Hill Street
419 Hill St, Biddeford, ME 04005, USA
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FOR SALEIndustrial / Warehouse
Cap Rate
9.5%
NOI
$340,111
Building Size
28,119SF
Ceiling Height / Slab to Slab
14 Ft
Lot Size
3.44AC
Year Built
1984
Listing Contacts
More property details
Year Renovated
1995
Tenancy
Single Tenant
Currently Leased
No
Features & amenities
Location Amenities
Railroad
Freight Port
Commuter Rail
Public Transportation
Location
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419 Hill Street
About the location
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.
Location 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.