About this home
. Once every 25 years an opportunity like this comes available . Augusta is the place to be and this location is perfect! Present 2025 rental income is $20,931 per month or $257.832 per year 2024 annual expenses were $110,834 . Net income of $146,998. Long term tenants in place . Cap rate is 8.39 percent. Location Location-Location! First Class commercial office building at the crossroads of commerce, adjacent to the Mall at Augusta, The University of Maine at Augusta and The Augusta Civic Center. Over 13,000 square feet of prime office space. Long term tenants with leases in 12 different office suites. A great collection of professional tenants that share a conference area, a fully equipped gym, a customer waiting area and bathrooms. First floor office space with multiple entrances and plenty of parking. This premium office building is owned by four impressive owners and the building is a condo with great exposure and large traffic count. This property is 88 % leased out and an additional three suites are available to lease out for additional income This location is ideal . Original owner has had the property since it was built in 2000
Listing last checked: Listing updated:
Listed by Listing Agent · LAER · MLS #1614192
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Details at a glance
Interior2 property facts
- Cooling
- Wall/Window Unit(s)
- Flooring
- Carpet, Laminate, Tile
Building3 property facts
- Style
- Office
- Year built
- 2000
- Foundation
- Slab
Land & utilities3 property facts
- Lot size
- 0.75 acres
- Sewer
- Public Sewer
- Zoning
- CD
Financial2 property facts
- Annual taxes
- $27,384
- Assessment year
- 2023
Location
Estimated monthly cost
Explore costs at the $1,750,000 asking price. Adjust the assumptions to your situation.
Known monthly costs$11,131 / monthAdjust
- Principal & interest
- $8,849
- Property tax
- $2,282
- Insurance
- Not entered
- HOA
- Not entered
Listing annual taxes: $27,384. Initial monthly tax is one twelfth of that amount. HOA amount was not supplied.
Partial estimate: add insurance, monthly HOA to include those costs. Blank amounts are unknown.
The initial 6.5% rate is illustrative, not a current rate or lender quote. Excludes utilities, maintenance, closing costs and mortgage insurance, which may apply with a down payment below 20%. Taxes and insurance can change.
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About 5 Community Drive #A1
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