Acord Self Storage & Ames Mill Storage - 2 Property… — Sale in Richmond, ME
- Price: Contact for price
- Listing type: For sale
- Asset type: Business
- Location: Richmond, ME 04357
- Year built: 2010
Photos
Investment Figures
- Cap rate
- 6.61%
Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.
Description
Acord Self Storage Marcus & Millichap is pleased to present the exceptional self-storage investment opportunity located at 530 Main Street in Richmond, Maine. The property features a long-established self-storage business offering investors significant upside potential, minimal operational risk, and multiple avenues for future income growth. The self-storage asset consists of 21,258 total rentable square feet, 174 drive-up and interior units, 400 square feet of office space, and a 2,400 square-foot space leased to an auto mechanic shop. The property also offers expansion opportunity of adding approximately 20 outdoor boat and RV parking spaces & 5 car spaces or additional modular units—allowing a new owner to expand operations and increase revenue over time. Recent capital improvements include the installation of new gutters on all original buildings, professionally refastened original roofs, and a fully repaved parking lot, significantly reducing near-term maintenance requirements while enhancing the property's long-term value. The property presents an attractive and well-maintained appearance, featuring two brand-new storage buildings, an electronic monument sign that provides high-visibility advertising, upgraded original buildings, and a freshly repaved parking area. Notably, rental rates have been adjusted only once during the past 20 years, creating a meaningful opportunity to increase revenue through strategic rent optimization with limited anticipated market resistance. The existing office space offers the potential to generate at least $1,500 per month in additional income, while the already paved site simplifies the permitting process for future expansion since no new impervious surface would be required. Strong traffic flow, excellent accessibility, reduced property taxes following the town's recent revaluation, and a history of conservative management further position this offering as an attractive investment with immediate and long-term upside. Ames Sel
Market Context
This commercial property in Richmond, ME is listed for sale. It is offered at an approximate 6.6% capitalization rate, a key benchmark for income-producing commercial property assets. The building dates to 2010. Compare it against other commercial property listings for sale in Richmond, ME — view the full market.
Contact
- Andreas Makris · (215) 531-7088 · andreas.makris@marcusmillichap.com
- Thomas Shihadeh · (617) 896-7220
- Doug Brooks · (614) 360-9039 · doug.brooks@marcusmillichap.com
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