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419 Hill Street
419 Hill St, Biddeford, ME 04005, USA
Available Now
$3,683,744
53 views
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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
About this property
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.
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.
Features & amenities
Location Amenities
Railroad
Freight Port
Commuter Rail
Public Transit
Location
419 Hill Street