Land Only - Approved Self Storage Development
Vacant Land
for Sale
| Catylist Listing ID: |
30871862 |
| Property Subtypes: |
Self Storage, Other
|
| Gross Land Area: |
40 Acres
|
| Sale Price: |
$1,150,000 |
| Unit Price: |
$28,750 Per Acre |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
Undisclosed |
| Last Updated: |
5/7/2024 |
Overview / Comments
|
This well-positioned (and fully approved) development project offers a prime location with great visibility from I-95. With the demand for self storage solutions on the rise, this development presents an ideal chance to capitalize on the market potential and secure long-term financial returns. The current owners are open to both a sale of land and development of the permitted self storage. The project boasts a fully approved project, allowing for the construction of a state-of-the-art facility with 40,000 Gross SF and 333 units and space for future uses and/or expansion. The plan also allows for truck rental on-site and additional revenue stream. This prime location adjacent to the Walmart and near the retail hub of Newport- guarantees a steady stream of potential customers, including residential and commercial clients seeking reliable storage solutions. The sellers are experienced developers that specializes in successful self storage developments in and around Maine as well as offer third-party management; providing an investors with an option to purchase a turkey solution. There are 3 additional lots with frontage on Route 2 to develop income producing opportunities. Don't miss this self storage and mixed used development opportunity!
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Additional Details
| Nearest MSA: |
Bangor |
| County: |
Somerset |
| Tax ID/APN: |
005-077-001,005-077-002,005-077-003, 005-077-004 |
| Zoning: |
COMMERCIAL |
| Property Visibility: |
Excellent |
| Feet of Frontage: |
600 |
| Traffic/Vehicle Count: |
9,152 |
| Highway Access: |
Newport Exit of I-95 |
| Site Description: |
Self Storage and Mixed Use Development Opportunity |
| Lot Frontage: |
600 |
| Part of Planned Development?: |
Yes |
Demographic Statistics
| Proximity: |
3 miles |
5 miles |
| Total Population: |
2,433 |
8,660 |
| Median Age: |
41.19 |
42.53 |
| Households: |
1,056 |
3,575 |
|
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The information presented herein is provided as is, without warranty of any kind.
Neither New England Commercial Property Exchange nor
Moody's assume any liability for errors or omissions.
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