41 Maine Street, New Gloucester, ME 04260

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Cameron W.

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Building Details:

41 Maine Street is an industrial property for lease in New Gloucester, ME.

Hall's Self Storage is a fully stabilized self storage facility with assets located in New Gloucester and Gray, Maine. This offering contains 501 storage units and 21 commercial/contractor spaces rented by tenants that range in size from 100 to 2,400 SF. Amenities at these locations include drive up storage units, climate and humidity controlled storage, digital video surveillance, motion activated lights, surface parking spaces, and office/warehouse and contractor units. There is also income from outside gated and ungated storage for RVs, boats and trailers. There are two locations, the primary is located at 41 Maine St, New Gloucester where the office, 244 self storage units and all the commercial/contractor units are situated. The second location is 6 miles south where there are 5 buildings, 3 of which are non-climate controlled and 2 are new state-of-the art climate and humidity controlled buildings with drive up access to 34 units.

In total there is approximately 68,675 NRSF of storage and 22,669 SF of commercial/contractor tenant space. Current ownership recently renovated and updated the rental office area which includes a private owner's office and bathroom.There are expansion possibilities at the New Gloucester location either to convert some of the commercial space to additional self storage or construct new drive-up buildings. This opportunity will provide an investor with a substantial market presence in one single acquisition.

This property provides significant in-place cash flow with a value-add opportunity by increasing rental rates, the systematic conversion of some or all of the commercial interior spaces to self storage, aggressive sales of tenant insurance and the sale of moving and storage supplies.The lack of existing storage in this market is significant. There is only 1 small facility, with only 80 units, within a one mile radius and the rest of the competitors are 10+ miles away.

• 501 Self Storage Units, 21 Commercial/Contractor Spaces, 91,344 Gross Square Feet
• $424,205 projected NOI for 2016
• Clean with Easy Access
• Security Cameras
• Drive-Up Climate-Controlled Units

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