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Cabela’s

Scarborough, Maine

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Marcus & Millichap is pleased to present the exclusive listing for a Cabela’s at 100 Cabela Boulevard in Scarborough, Maine. The site consists of roughly 130,000 rentable square feet of building space on a 5.00-acre lot that comprises its unit as part of a commercial condominium for the entire Gateway Shoppes development. All roads, parking and access are common elements that are the responsibility of the condominium unit owners, who owe their proportionate share of the property manager’s fee. This Cabela’s is subject to 25-year triple net (NNN) lease with absolutely zero landlord responsibility that commenced May 12, 2008 and has over 10 years remaining on the primary term of the lease. The current net operating income is $2,507,000 and is scheduled to increase 10% every 5 years and in each of the two, 10-year options and the one 5-year option.

About The Investment:
✓ Long-Term, 25-Year Absolute Triple Net Lease with Over 10 Years of Term Remaining with 10% Rental Escalations Every Five Years
✓ Continuous Operation Clause | Rare Lease Clause Found in Cabela’s and Bass Pro Leases
✓ Only Cabela’s or Bass Pro Shops in the Entire State of Maine | Ranked in the Top 78th Percentile Nationwide on Placer | Visitors Travel as Far as 100 Miles to Shop at This Location
✓ Excellent Visibility and Access From Interstate 95 and Route One | Ideally Located Less Than 9-miles From Downtown Portland, ME
✓ Adjacent To Scarborough Fishing And Game Association, Scarborough Gun Club | Wildlife Management Area (WMA) | Located Less Then 3-miles Away | Massive Greenland’s Used For Hunting, Fishing, And Other Outdoor Activities

About The Location:
✓ The Gateway Shoppes | Highway Adjacent Retail Corridor | Lowe’s, Walmart, The Home Depot, Sam’s Club, McDonald’s, Walgreens, Dunkin Donuts, AutoZone, Dominos, Starbucks, Best Buy, Petco, Five Guys, Goodwill and Many Others
✓ Strong Traffic Counts | Sandwiched Between I-95 And Route One, Seeing 38,000 And 26,000 Vehicles Pass Daily
✓ New Development Costco Down The Road | Scarborough Downs Innovation District | Nearby Major Mixed-Use Proposed Town Center | Future Development Site
✓ First Costco in the State of Maine | Additional 1,000 Housing Units and Two Million Square Feet of Commercial Space
✓ Affluent Community | AHHI Exceeding $102,708 Within A 3-Mile Radius
✓ The Mall of Maine | Large Retail Pocket That Brings In Patrons From Downtown Portland and Surrounding Towns is Positioned Immediately North of the Cabela’s
✓ Strong Demographics | Established And Growing Community With A Population Of 212,612 Within 10 Miles of the Property

About The Tenant / Brand:
✓ Cabela’s Has Been Successfully Operating For Nearly 60 Years
✓ Acquired By Bass Pro Shops In September Of 2017 | 170 Stores In Spanning Across The U.S. And Canada
✓ Revenue Of $4.1 Billion | Over 19,100 Employees
✓ Growing Industry | $149.9 Billion Fishing And Hunting Industry With Revenue Growth Of 2.1% In 2022

Key Details

Price:
$40,764,227
Cap Rate:
6.15%
Annual Rent:
$2,507,000
Address:
100 Cabela Boulevard, Scarborough, Maine 04074
Property Type:
Net Lease Retail
Lease Type:
Absolute Triple Net (NNN)

Original Lease Term:
25 Years
Lease Commencement:
May 12th, 2008
Lease Expiration:
May 31st, 2033
Lease Term Remaining:
10+ Years
Rental Increases:
10% Every 5 Years
Lot Size:
5 Acres
Building Size:
130,000 SF
Year Built:
2008
Tenant:
Cabela’s

Talk to the pros

Glen Kunofsky

License: 49KU1129178

Anthony D’Ambrosia

License: 10401294012

Josh Kanter

License: 10401294056

Ilan Bley

Broker of record

James Koury

License: DB904355


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