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The 81,000 +/- SF Rumford Plaza offers a rare combination yield and value-add play with an impressive tenant roll including Tractor Supply Company, Dollar Tree, Marden's, Motion Industries and Carparts Stores.It's a yield play with its $3.3M list price yielding an unlevered 7.96% cap rate with several long-term tenants.High land and construction costs make new shopping centers cost prohibitive, hence acquiring the plaza also creates a value play given its replacement cost far exceeds its $40.76/SF cost. There is no competition in the area.Finally, it's a value-add play as there is sufficient land to construct a mixed-use commercial and residential building in the massive 340 +/- space parking lot. The city of Rumford is motivated to work with qualified buyer-developers to streamline approvals for new development. FY22 real estate taxes are $53,718, reimbursed by the NNN tenants.
Listed by, Bean Group

Property Details of 1010-1016 Rt. 2

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