Saco, Maine-Rite Aid · Saco ME See Location on Map
Subject property is located at 461 Main St in Saco, Maine. Current tenant is Rite Aid with a 20 year initial lease term and (4) 5 year renewal options.
Building was built in 1997 and is 11,180 +/- SF on 2.22 AC of land.
Property is located on Route 1 with high traffic counts. To the south of the property on Route 1 the average daily traffic count is 22,440 and to the north on Route 1 the average daily traffic count is 23,590!
Landlord is responsible for the roof and structure of the building.
Rite aid is one year remaining on their initial lease term
Rent is as follows:
Initial term year 1-20 (1997-2017): $210,743 Annually
Option 1 (2017-2022)- $210,743 Annually Option 2 (2022-2027) – $223,041 Annually Option 3 (2027-2032) -$234,221 Annually Option 4 (2032-2037) – $245,401 Annually
If all options are exercised the lease would extend out until 2037!
*Rite Aid as a restriction on 2-mile radius of property for drugstore, beauty and health products.