Main Street

• Palmyra/Newport area Self-Storage Development Opportunity
• - 6300+ People in 5 miles
• - 4.68 SF/per capita storage in 3 Mile
• - Property Adjacent to Walmart and Newport, Maine Townline
• - Price for Land Acres (4 lots) & Site Plan Approvals and Permits in Hand: $1,1500,000
• - Price for 4 Lots Mixed Use and build-out of 40,000SF Self Storage: $3,875,000
• - Estimated Certificate of Occupancy Value for Self Storage: $3,475,000
• - Front 3 Lots 600+/-frontage and Back Lot Highly Visible from I-95
• - 330 Units

Property Description

SVN The Masiello Group and SVN | C.M. Neville & Associates, Inc. have been engaged by the seller/developer to exclusively offer this investment opportunity in Palmyra, Maine. This development opportunity offers 40+/- acres-3 lots with 600+/-ft. frontage on RT 2 and 1 lot approved and permitted to build 40,000SF self-storage. The property is highly visible from I-95, adjacent to Walmart and close to Newport center the regional retail hub- Tractor Supply, Dollar Store, Pizza Hut, Dunkin Donuts, Hannaford's, Aroma Joes. The Newport I-95 exit is heavily accessed by local and regional commuters headed to retail, restaurants, Sebasticook and Moosehead Lakes, Sugarloaf Ski Resort and other popular recreational (RV/Camp/ATV/Snowmobile) destinations. This development project presents an ideal chance to capitalize on the market potential and secure long-term financial returns by bringing a superior self-storage product to the market. The sellers/developer will deliver a fully approved, permitted and built 40,000 Gross SF drive-up self-storage facility on Lot 3. The 40+/- acres has excellent visibility from 1-95 and provides the opportunity for additional revenue with its permitted and approved use for for truck rental. The ample acreage allows for endless future opportunities pending town approvals. For a truly turn-key operation the buyer has the option to engage the sellers 3rd-party management company to maximize on local expertise during lease-up and stabilization of self- storage facility. This parcel is adjacent to the Newport Walmart with the north side of the parcel located on Route 2 (6,705 VPD) and the south side runs along I-95 (9152 VPD). Route 2 is the main travel route to Newport center with an excellent traffic count of 17,347. Currently, this market offers 4.68 SF/per capita of self-storage in 3 mile radius. Limited data on boat/RV storage in area.