Building Details

Year Built 1925

Listing Agency: Alex & Associates Realty Show Phone

Listed By: Carrie Alex · License #Carrie Alex Show Phone

Source: Longviewcre

Added: Aug 24 Changed: Oct 28 Last Checked: Nov 1 at 3:06AM

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Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Alex & Associates Realty

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Investment Insights

Based on property information with market context.

This self-storage property provides a private area with multiple garage doors for separate access. Its configuration can remain as one space or be divided using custom partitions, supporting a range of storage arrangements.

The building was constructed in 1925 and is located at 16 Scotts Court in South Berwick, Maine.

Key Highlights

• Multiple garage doors provide separate access points
• Custom partitions allow the space to be divided
• Can be configured as one area or subdivided

Financial Insights

Estimated NOI and Cap Rate

NOI / Yr

$15,642

Suggested Prices Based on Cap Rates

Cap Rate 5%

$312,840 $312.8K

Cap Rate 7%

$223,457 $223.5K

Cap Rate 9%

$173,800 $173.8K

What to ask about pricing

Market Conditions

NOI Build-Up for 1,782 SF

Gross rent

$23.5K $13.20/SF

− Vacancy

−$1.2K −$0.66/SF

EGI

$22.3K $12.54/SF

− OpEx

−$6.7K −$3.76/SF

NOI

$15.6K $8.78/SF

Area

York County, ME

Vacancy

5.00%

Lease Rate

$13.20 /SF/Yr

Expense Ratio

30.00%

Simulate Cap Rate and NOI

Suggested Prices Based on Cap Rates

Cap Rate 5%

$312,840

Cap Rate 7%

$223,457

Cap Rate 9%

$173,800

Alternative Uses

Best Use

Warehouse

$318.8K

$278.9K – $371.9K (±1% cap)

NOI $22,314 @ 7.0% cap · market cap 2,231,400.00%

Second Best

Self Storage

$223.5K

$195.5K – $260.7K (±1% cap)

NOI $15,642 @ 7.0% cap · market cap 1,564,200.00%

Theoretical Best

Office A

$564.9K

$494.3K – $659.0K (±1% cap)

NOI $39,542 @ 7.0% cap · market cap 3,954,200.00%

Zoning and permitted uses should be independently verified with authorities. How Realmo checks its estimates

Property Analytics

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Open Analytics

Current Use

Self storage facilities

Suggested Use

Top Pick Plumbing Service (Bike/Boat/Book/etc) Store Parking Lot & Garage Bakery Garden Center Building Supply

Score = modeled unmet demand for each use within ~1 mi (higher = bigger opportunity). Zoning and permitted uses should be independently verified with local authorities.

Location Intelligence

Trade Area within ½ mile

428

Businesses Nearby

Explore this area Business Placement

Demographics for 03908, ME

7,468

Population

3,169

Households

2.4

Avg Household Size

41

Median Age

39%

College-Educated

98%

High-School Grad

31.9 sq mi

ZIP Area

234

Density / Sq Mi

$97,927

Median Household Income

$52,008

Median Earnings

$1,535

Median Rent

$385,000

Median Home Value

Market

Vacancy Rate% for Industrial in Northeast region

5.4% 2019

4.6% 2020

3.2% 2021

3.3% 2022

5.3% 2023

6.6% 2024

7.6% 2025

Similar For Sale Nearby

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Victorian Mixed-Use Property

49 Portland Street, South Berwick, ME 03908

$565,000

3,120 SF

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Brick Mixed-Use Property

279 Main Street, South Berwick, ME 03908

$575,000

3,184 SF

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Frequently Asked Questions

What type of property is this?

Self storage facility - Private storage space offers a single-area setup or the option to create separate sections.

Where is this self storage facility located?

The property is located at 16 Scotts Court South Berwick, ME.

What are key features of this property?

This property features: Multiple garage doors provide separate access points; Custom partitions allow the space to be divided; Can be configured as one area or subdivided