Improved Commercial Land for Sale in South Portland, Maine

Here is a rare opportunity at one of South Portland's most iconic and high-traffic intersections. The Walgreens location at 279 Main Street, located at Cash Corner, is uniquely available for a limited time either as a redevelopment opportunity to purchase vacant or to accept a lease extension offering and remain as a single tenant retail building. The site sees combined traffic counts exceeding 25,000 VPD. The property currently features a freestanding retail building with a drive-thru pharmacy, providing easy access to I-295 and surrounding high-density residential neighborhoods. The tenant currently has a lease expiration of May 31st, 2026 and is seeking a short term lease extension through September 31, 2029 with a rental rate of $134,606.70 annually or $13.46 PSF, NNN. The likely highest and best use is a redevelopment of the existing 10,578 SF as well as additional development of the adjacent excess land with site plan proposals attached to the listing for an idea of what could be developed on the site. The opportunity for an owner user or developer is here for a limited time.