A mall in Ellsworth that used to be a mill has been put on the market.
The asking price for the Mill Mall, which has been owned by Willey Grant Company since 2000, has not been publicly disclosed.
Robert Baldacci, one of two agents listing the property on behalf of F.O. Bailey Real Estate, said prospective buyers are being asked to sign confidentiality agreements before the company provides financial information such as the asking price and lease agreements with the mall’s tenants.
“It’s in great condition,” Baldacci said. “It is nearly full.”
The mall is a former textile mill that now houses more than a dozen businesses. The 75,000-square-foot building sits on a 9.26-acre lot between State Street and Ellsworth Elementary Middle School.
Tenants at the mall include Sylvia’s Cafe, Dragonfire Pizza, Willey’s hunting and fishing equipment store, the University of Maine at Augusta, the city’s adult education program, and others. Sweet Cheeks Bakery has plans to open a branch at the mall in a space formerly occupied by Machias Savings Bank.
Baldacci said the real estate firm has reached out to four or five commercial investors that it regularly deals with to see if any might be interested in the property, but so far none has made an offer. The mall is not listed among commercial properties for sale on the F.O. Bailey website, but if no offers come in in the next few days, it likely will be posted, Baldacci said.
“It’s our hope” that the property will sell quickly, he said. “It is a major property.”
The assessed value of the property is $5.3 million, according to city property records. Willey Grant Company purchased the property in 2000 for $3 million, city records indicate.
