23 Smada Drive is an industrial property for lease in Sanford, ME.
Adams Park Storage is a stabilized self-storage facility located in Sanford, Maine. This facility has 121 units for a total of 14,300 Net Rentable Square Feet (NRSF) in six buildings plus a 400 SF Management Office. The property was built in 1985, expanded several times with the last building being built in 1991. It sits on a 2.03 acre lot with 390' of frontage.
Adams Park Storage has a physical occupancy of 93%. With some rate increases that were effective April 1st 90% economic occupancy was recently achieved. In addition to further raising some rental rates and possibly increasing management efficiencies by operating the property with a kiosk, a new owner could realize an increased NOI. Priced at $52.45 per NRSF this is a solid opportunity for a buyer to purchase a cash flowing self-storage facility with income upside potential and expansion possibilities on an abutting on-the-market parcel.
Adams Park Storage is located in Sanford, Maine, a city located approximately 34 miles southwest of Portland in the county of York which is considered the southern gateway to Maine. Sanford is the 7th largest municipality in the state and part of the Portland, South Portland, Biddeford metropolitan statistical area (MSA). Immediately surrounding the property are recognizable national retailers such as Walmart, Lowes, Ocean State Job Lot, Dunkin Donuts among others.