5 COMMUNITY DR

Property Description

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. Once every 25 years an opportunity like this comes available Augusta is the place to be and this location is perfect! Present2024 rental income is $18,286 per month or $219,432 per year 2024 annual expenses were $111,321. Annual .At past rental rates the three vacant suites could be an additional $3750 per month income or an additional $45,000 a year. So or potential exists for $264,432 in rental income or $22036 per month!