23 Bangor Street, Augusta, ME 04330

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Charles W. D.

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--- Retail Space For sale: Contact for Pricing

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Building Details:

23 Bangor Street is aretail property for lease in Augusta, ME. The property currently has 1 retail space for lease and is marketed by CB Richard Ellis/The Boulos Company.

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 Huts rent for the next five years while at the same time operating its business.

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