for sale | topsham crossing · fabrics, lamey wellehan’s, mattress firm, petco, reny’s, target,...

MALONE COMMERCIAL BROKERS

5 Moulton Street • Suite 3

Portland, ME 04101

207.772.2422 • malonecb.com

JOHN DOYON, CCIM

BROKER

207.772.8300 D • 207.450.8003 C

[email protected]

FREE STANDING STRIP CENTER

Topsham Crossing is a 100% occupied, 8,674 square foot freestanding strip center within the Topsham Fair Mall power center. It is located just off from I-295 near the intersection of State Road 196 (Brunswick-Topsham Bypass) and Topsham Fair Mall Road. The subject center is shadowed anchored by the Target, Dick’s, Petco and Dollar Tree complex. This location is the dominant retail hub of the Bath, Bowdoinham, Brunswick, Richmond, Topsham area as well as the islands south of Brunswick (Great, Orr’s and Bailey’s).

The area employers include Bath Iron Works (one of the largest in Maine), Bowdoin College, Harry C. Crooker & Sons General Contractors, L. L. Bean’s, Mid-Coast Hospital, etc.

The subject center’s tenants include Edward Jones, Game Stop, Gentle Dental, Sally Beauty and Super Cuts. All of the tenants have been in place since near the time the center was built.

The offering may include a 0.73± AC land parcel across from the access road leading into the Target center which is believed to be sufficient to accommodate a 7,200± SF building when last checked. There is no con-firmation from the town on the size that would be currently allowed.

STRIP CENTER PRICE: $1,895,000

DEVELOPMENT PARCEL PRICE: $350,000

FOR SALE | TOPSHAM CROSSING

127 - 133 TOPSHAM FAIR ROAD, TOPSHAM

PROPERTY SUMMARY

127 - 133 TOPSHAM FAIR ROAD | TOPSHAM

OWNER: Dakota Bear Properties, LLC

DEED: Book 2015R, Page 3905 (improved property); Book 2015R, Page 3904 (development site)

ASSESSOR: R05/021/D/09E (improved property); R05/021/D/09D (development site)

LOT SIZE:

1.09± AC (improved property); 0.73± AC (development site)

Land and property sizes along with property details herein are based upon city records or infor-mation provided by the owner

BUILDING SIZE: 8,674± SF

PROPERTY TYPE: 1.09± AC (improved property); 0.73± AC (development site)

CONSTRUCTION: 2007, masonry

CONFIGURATION: Five retail units, 100% leased

ROOF: Rubber membrane (an inspection should verify this)

EXTERIOR: Reinforced concrete

FOUNDATION: Slab

FLOOR: Carpet or tile over slab

CEILING HEIGHT: 10’

LIGHTING: Fluorescent

ELECTRICITY: Main entry, 800 amps, 240/120, three phase. Individual tenant services not verified.

HVAC: Natural gas and electric

WATER/SEWER: Municipal

SPRINKLER: Yes

RESTROOM: In each unit

PARKING: Ample parking, 30± spaces per land parcel and other spaces in the open lot which appears to consistently have surplus parking

SIGNAGE: On building

ACCESS: Convenient to I-295 Exit 31 in the main retail hub of Topsham

ZONING: Commercial

TENANT UTILITIES: Tenant pays electric for lights, plugs and air conditioning and oil for heat

ASSESSMENT: $1,449,200 (improved property); $430,800 (development site)

PROPERTY TAXES: $27,752.18 (improved property); $8,249.81 (development site)

RENT ROLL


This document has been prepared by Malone Commercial Brokers (MCB) for advertising and general information only. MCB makes no guarantees, representations or warranties of any kind, expressed or implied, regarding, but not limited to, warranties of content, accuracy, and reliability. Any interested party should undertake their own inquiries as to the accuracy of the information. MCB excludes unequivocally all informed or implied terms, conditions and warranties arising out of this document and excludes all liability for loss and damages there from. All data is subject to change of price, error, omissions, other conditions or withdrawal without notice. MCB is acting as the Seller’s/Lessor’s agent in the marketing of this property. 11.18.19

TENANT SF RENT/SF ANNUAL CAMs/TAXES LEASE

COMMENCEMENT

LEASE

EXPIRATION

Edward D. Jones 1,786 $11.50 $20,538 $13,369.48 2009 2020

Game Stop 1,746 $24.50 $42,777 $15,737.16 2006 2021

Gentle Dental 2,385 $10.28 $24,525 $18,432.47 2013 2023

Sally Beauty Supply 1,200 $25.30 $30,360 $10,341.52 2007 2023

SuperCuts Inc 1,200 $27.83 $33,396 $11,278.80 2007 2022

Some lease rates are significantly below market due to the tenant initially paying to fit-up their space from a construction shell.

The owner appeared to keep the CAM payments initiated by the former owner and they are not 100% con-sistent on a square foot basis from space to space. The owner does reconcile at the year-end which results in lump sum amount being paid. The tenants pay for all traditional net costs and there are no costs that are not passed through. The landlord is responsible the replacement of the roof and structure. The tax returns will show some additional management costs which are assigned to the return for this property but are not in-curred on this property.

DEVELOPMENT

PARCEL

RETAIL

CENTER

2018 INCOME AND EXPENSES - Retail Center Only


Income:

Base Rent $ 151,596

Triple Net Reimbursements $ 71,811

Total Gross Income $ 223,407

Vacancy Factor at 3% $ -6,702

Total $ 216,705

Expenses:

Property Tax $25,760.90

Insurance $ 2,803.00

Electricity $ 2,635.34

Natural Gas/Heat $ 809.13

Sewer $ 2,180.50

Phone for Alarm System $ 2,013.26

Fire Sprinklers $ 344.00

Life Safety $ 1,970.29

Waste $ 2,496.00

Building Maintenance $ 486.42

Plowing and Landscaping $14,395.92

Management Fees $ 5,731.86

$61,626.62 ($7.10/SF)

$155,078.38 Net Operating Income

Not included in the expenses are expenses appearing on the tax return for auto and travel, a plow vehicle and plowing (not used at this property), home office and office equipment including computers, cell phone services, business depreciation, attorney fees, and other general supplies all of which would not pertain to a new owner’s costs.

TENANTS


GameStop is the world’s largest game retailer. The company operates 6,627

retail stores throughout the United States and other international locations.

The company also operates an e-commerce site, GameStop.com and publishes

Game Informer® magazine, a leading multi-platform video game publication.

GameStop Corp sells new and used video game software, hardware and acces-

sories for video game systems from Sony, Nintendo and Microsoft and PC en-

tertainment software and related accessories . GameStop is a publically traded

company (NYSE: GME) with an annual revenue of over $9 billion.

Edward Jones is a financial services firm headquartered in Des Peres, Missouri

in Greater St Louis which serves investment clients in the United States and

Canada, through its branch network of more than 11,000 locations and cur-

rently have relationships with nearly 7 million clients worldwide. The firm fo-

cuses solely on individual investors and small-business owners. Edward Jones

is a limited partnership owned only by its employees and retired employees

and is not publicly traded.

Sally Beauty meets the needs of professional cosmetologists with more than

6,000 products for hair, nail and skin care, as well as a full range of salon

equipment. Sally Beauty stores also appeal to consumers who recognize the

exceptional value and benefits of professional beauty products for use at

home between salon visits. They offer special membership programs, such as

the Beauty Club Card for our non-professional customers and the Sally Pro-

Card for our professional customers.

SuperCuts is a hair salon franchise with over 2,000 locations across the United

States that never require an appointment. The company was founded in the

San Francisco Bay Area in 1975, by Georffrey M. Rappaport and Frank E. Em-

mett. The company’s first location, which is still in existence, is in Albany, Cali-

fornia. Its headquarters are in Minneapolis, Minnesota. It is a wholly owned

subsidiary of Regis, which also owns Regis Salons, Mia & Maxx, MasterCuts,

Cost Cutters, SmartStyle, and First Choice Haricutters in the United States and

Canada.

Gentle Dental is a dental practice devoted to restoring and enhancing the nat-

ural beauty of your smile using conservative, state-of-the-art procedures that

will result in beautiful, long lasting smiles! A standard of excellence in person-

alized dental care enables us to provide the quality dental services our pa-

tients deserve. They provide comprehensive treatment planning and use re-

storative and cosmetic dentistry to achieve optimal dental health.

FOR SALE | TOPSHAM CROSSING

127 - 133 TOPSHAM FAIR ROAD, TOPSHAM

MALONE COMMERCIAL BROKERS

5 Moulton Street • Suite 3

Portland, ME 04101

207.772.2422 • malonecb.com

JOHN DOYON, CCIM

BROKER

207.772.8300 D • 207.450.8003 C

[email protected]

Area retailers include among many others:

Retail Bedderest, Day’s Jewelers, Dollar Tree, Goodwill, Hannaford’s, Home Depot, Joann Fabrics, Lamey Wellehan’s, Mattress Firm, Petco, Reny’s, Target, and Yahama/Polaris

Banks Camden National Bank, Norway Savings Bank and TD Bank

Food Arby’s, Firehouse Subs, McDonald’s, Ninety-Nine, Panera Bread, Ruby Tuesday, Starbucks and Wendy’s

Service Aspen Dental, New England Fitness Center, Tire Warehouse, Town Fair Tires, Urgent Care and Verizon

Miscellaneous Smitty’s Cinema

RADIUS: 5Miles 10 Miles 15 Miles

Total Population 28,871 68,614 117,566

Total Households 12,106 29,078 49,349

Average Household Income $79,211 $76,176 $79,711

Total Businesses 1,463 2,969 4,778

Total Employees 18,422 33,031 51,881

DEMOGRAPHICS

for sale | topsham crossing · fabrics, lamey wellehan’s, mattress firm, petco, reny’s, target,...

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