All Purpose Storage - Fairfield
For sale204 Center Rd lot b, Fairfield, ME 04937
Unit / Space count
407
Price
$4,750,000
Year built
2002
Year renovated
2022
Occupancy
80%
Lot size
7.47 acres
Number of buildings
16
Property description
All Purpose Storage presents an attractive opportunity to acquire an established self-storage facility in Fairfield, Maine, within the Augusta-Waterville metropolitan area. The property features a diverse mix of traditional, non-climate-controlled storage units across multiple buildings, serving a growing regional population supported by healthcare, education, manufacturing, and ongoing residential development. Convenient access to Interstate 95 and a market characterized by limited storage supply provide a solid foundation for continued demand. The property offers significant value-add potential through occupancy growth, rental rate optimization, and increased ancillary revenue from tenant insurance and fee programs. Existing management software, vendor relationships, and solar panels that eliminate electrical utility costs support efficient operations and make the facility a strong candidate for remote or semi-remote management. With opportunities to stabilize performance and capture additional income in an undersupplied market, All Purpose Storage represents an appealing investment opportunity in central Maine.
Property highlights
- Institutional-Size Self Storage Facility Comprised of 408 Non-Climate Units Totaling 63,520 Net Rentable Square Feet
- Facility Benefits From Solar Panel Installation that Results in Zero Electrical Utility Costs
- Heavy Upside Available Through Lease Up, Stabilization, and the Implementation of Existing Customer Rent Increases
- Opportunity to Increase Revenue Through Maximizing Fee Income and Tenant Insurance Sales
- Facility is an Excellent Candidate for Remote or Semi-Remote Management with Essential Vendor Contracts and Management Software Already in Place
- Population of 27,099 Residents Within Five Miles of the Property Growing at 1.2% Annually
- Solid Average Household Income of $68,393 Within Five Miles of the Property
- Fairfield is Located in Southern Maine Along the Kennebec River, Approximately 20 Miles North of Augusta
- The Augusta-Waterville MSA is the Third Largest in the State of Maine and is Home to 127,259 Residents
In Association with ParaSell, Inc. | A Licensed Maine Broker #AC90603332 Scott Reid Broker - ParaSell Inc Lic #: ME - DB917753 Broker@parasellinc.com 949.942.6578