MADAWASKA — The building that once housed Madawaska’s Kmart, which closed in early 2019, is for sale.
Gorjian Acquisitions, a New York real estate firm, listed the property on April 20. The online listing does not include a price.
The building has not been assessed this year, according to the Madawaska town office, but in 2022, it was assessed at $981,227. The surrounding land was assessed at $82,800.
Madawaska leadership has tried to spark interest in the former Kmart property, which has been empty for about four years, as part of efforts to revitalize the heart of the downtown. In 2017, the town revealed its Grand Plan Madawaska, a 10-year blueprint to bring new life to an area that has struggled with economic decline for years.
The Kmart structure was built in 1973 and is 54,973 square feet.
Sears Holdings Corp. announced plans to close the Madawaska Kmart in late 2018, citing hardship amid bankruptcy proceedings.
At roughly the same time, Connecticut-based Mid-Town Realty Associates donated the plaza property and two vacant buildings to the town. The buildings were demolished to make way for a new health facility owned by Fish River Rural Health. After weeks of surveys and legal work, Madawaska transferred the 1.68 acre parcel of land to the health organization.
New York-based Seritage Growth Properties still owned the Kmart building at the time. The building was later bought by a Miami company last July before it was placed on the market earlier this year.
Assistant Editor Paula Brewer contributed to this report.