23 Bangor Street is aretail property for lease in Augusta, ME.
We are pleased to offer for sale 23 Bangor Street in Augusta. Pizza Hut is currently leasing the property through January 1, 2021, with a kick-out clause on January 1, 2016. They will likely exercise this kick-out clause as they have closed their doors at this location and are offering the building for sub-lease. That said, Pizza Hut is a strong tenant paying $140,847.72/year until 2016. This gives an investor a nice rate of return while a new tenant is found. This property could potentially be a steal for an owner/user who signs a reduced rate sub-lease rate with Pizza Hut before purchasing the property. In this scenario, the owner/user could collect Pizza Hut’s rent for the next five years while at the same time operating its business.
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