Ellsworth retail center hits the market for $9.5M
Photo / Courtesy F.O. Bailey Real Estate
The Mill Mall in Ellsworth is situated within sight of throngs of tourists traveling to Acadia and other tourist destinations.
An Ellsworth retail center, strategically situated within sight of throngs of tourists traveling to Acadia National Park, has gone on the market for $9.5 million.
The Mill Mall, at 248 State St., went on the market earlier this month.
The property was listed by Robert Baldacci and Thomas Gadbois of F.O. Bailey Real Estate.
The 85,370-square-foot shopping center on 9.2 acres was built in 1953 on the U.S. Route 1A corridor between Bangor and tourism hotspots that include Mount Desert Island, Acadia National Park, the Blue Hill Peninsula and Downeast destinations.
The center is fully leased with 23 tenants, said Baldacci. The seller, Willey Grant LLC, has owned the property for at least 25 years, performed significant improvements over time and will retain 2 acres in the rear, Baldacci said.
The seller is looking to retire, he added.
The likely buyer pool will be “investors looking for a solid return with a stable tenant base,” he said.
There have been several serious inquiries so far.
“Not many options in the market with this sort of exposure,” Baldacci said. “It’s an iconic property, great location.”
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