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    Institutional-Size Self Storage Facility Title is generated by Realmo AI

    204 Center Rd lot b, Fairfield, ME 04937

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    For Sale
    $4,875,000

    Self-storage facility in Fairfield, Maine with upside potential.

    Type:Self Storage
    Property size:
    63,520 SF
    Price / SF:
    $76/SF
    Added:
    Apr 1, 2026
    Days on Market:
    67
    Last Refresh:
    Apr 1 at 11:52 am

    Property Features for 204 Center Rd lot b

    General Information

    Standard status
    Active
    Size
    63,520 SF
    Property subtype
    Self Storage

    We can help!

    Listing Contact
    Frank DeSalvo
    Frank DeSalvo

    Listing agent Frank DeSalvo License #NC #307512

    Listing office Franklin Street - Corporate

    Listing date Apr 1, 2026

    Source Franklinst

    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 Franklin Street - Corporate

    HighLights

    • Zero electrical utility costs due to solar panel installation.
    • Significant upside potential through lease‑up, stabilization, and rent increases.
    • Opportunity to increase revenue through fee income and tenant insurance sales.
    • Suitable for remote or semi‑remote management with existing vendor contracts and software.
    • Located in a growing area with a solid average household income.
    • Large self‑storage facility with 408 units totaling 63,520 net rentable square feet.

    Overview

    This institutional-size self-storage facility is located in Fairfield, Southern Maine, along the Kennebec River, approximately 20 miles north of Augusta. The Augusta-Waterville MSA, the third largest in Maine, is home to 127,259 residents. The facility comprises 408 non-climate controlled units, totaling 63,520 net rentable square feet. The property benefits from a solar panel installation, resulting in zero electrical utility costs. There is heavy upside available through lease-up stabilization and the implementation of existing customer rent increases. The opportunity exists to increase revenue through maximizing fee income and tenant insurance sales. The facility is an excellent candidate for remote or semi-remote management, with essential vendor contracts and management software already in place. The population within five miles of the property is 27,099 residents and is growing at 1.2% annually. The average household income within five miles of the property is $68,393.
    Location Intelligence

    Current Use by Public Records

    Irving Oil Gas Station Redbox Cinema Circle K | Truck ... Parking Lot & Garage Irving Charging Station Electric Vehicle Charging Station Circle K Grocery & Convenience Store

    Suggested Use

    Restaurant Real Estate Agency Law Firm Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Hair Salon Nail Salon

    Zoning and permitted uses should be independently verified with local authorities.

    Location Insight

    • Map
    • Local Demand
    City
    Fairfield
    County
    Somerset
    State
    Maine
    Longitude
    -69.6176882
    Latitude
    44.5950256

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    FAQs

    What type of property is this?
    Self storage facility - Self-storage facility in Fairfield, Maine with upside potential.
    Where is this self storage facility located?
    The property is located at 204 Center Rd lot b Fairfield, ME.
    What is the asking price?
    The asking price for this property is $4,875,000.
    What are key features of this property?
    This property features: Zero electrical utility costs due to solar panel installation.; Significant upside potential through lease‑up, stabilization, and rent increases.; Opportunity to increase revenue through fee income and tenant insurance sales.
    (813) 793-8488
    We can help!
    Listing Contact
    Frank DeSalvo
    Frank DeSalvo
    Real Estate License ID: NC #307512
    Learn More
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    Realmo Value Estimations

    Realmo estimates a property’s market value using a proprietary methodology that incorporates public data and user-submitted information. This cumulative value is generated by integrating a variety of conventional and innovative methods. 

    Disclaimer

    These figures are not official appraisals and should not be used as a substitute for a valuation performed by a licensed appraiser.
    Actual market value may differ due to factors not captured in the data. Estimates are offered for informational purposes only, and users should conduct independent research before making financial or investment decisions.
    By using this feature, you acknowledge that Realmo is not responsible for actions taken based on these estimates.

    AI approach

    Realmo AI Method estimates property value using machine learning models trained on millions of comparable listings, transactions, and market signals. It analyzes property features, location intelligence data, and current market dynamics to predict the most probable market value in real time.

    Realmo CapRate Calculation

    Realmo calculates the Capitalization Rate (Cap Rate) to help estimate a property's potential return on investment. The Cap Rate is a fundamental metric in commercial real estate that measures the relationship between a property's net operating income and its market value.

    How We Calculate Cap Rate

    Cap Rate Formula:
    Cap Rate (%) = (Net Operating Income / Property Value) × 100

    Net Operating Income (NOI) Formula:
    NOI = Area × Lease Rate × (1 - Vacancy Rate) × (1 - Operating Expense Ratio)

    Components

    Net Operating Income (NOI) represents the annual income a property generates after operating expenses:

    • Area: Building square footage from property records
    • Lease Rate: Annual $/sqft based on market data for the property type and geographic location
    • Vacancy Rate: Percentage of unoccupied space based on market data for the property type and location
    • Operating Expense Ratio: Operating costs as a percentage of income, varies by property type

    Property Value is derived from:

    • Recent sale price (if available)
    • Statistical models using comparable sales
    • AI-powered valuation estimates

    Example Calculation

    For a 100,000 sqft Office Building:

    • Lease Rate: $25.00/sqft/year (market data for Office in this area)
    • Vacancy Rate: 8% (market data for Office in this area)
    • Operating Expense Ratio: 35% (typical for Office properties)
    • Property Value: $15,000,000

    Step 1: Calculate NOI

    NOI = 100,000 × $25.00 × (1 - 0.08) × (1 - 0.35)
    NOI = 100,000 × $25.00 × 0.92 × 0.65
    NOI = $1,495,000/year

    Step 2: Calculate Cap Rate

    Cap Rate = ($1,495,000 / $15,000,000) × 100
    Cap Rate = 9.97%

    Property Type Considerations

    Net Operating Income calculations vary by property type due to different operating expense ratios:

    • Office: Higher expenses (30-40%) for HVAC, utilities, maintenance
    • Retail: Moderate expenses (25-35%) for common area maintenance
    • Industrial/Warehouse: Lower expenses (15-25%) for minimal tenant services
    • Multifamily: Moderate expenses (35-45%) including property management
    • Self-Storage: Lower expenses (25-35%) due to minimal maintenance

    Market lease rates and vacancy rates are specific to each property type and geographic location, reflecting local market conditions.

    Disclaimer

    These calculations are estimates for informational purposes only and should not be used as a substitute for professional financial analysis or appraisal.

    • Cap Rate calculations depend on market data that may change over time
    • Actual operating expenses, lease rates, and vacancy rates may differ from market averages
    • Individual property conditions, lease terms, and tenant quality significantly impact actual NOI
    • Property value estimates are approximations and not official appraisals
    • Cap rates vary widely by market, property condition, and investment risk profile

    Professional Guidance Recommended: Before making any investment or financial decisions, consult with licensed appraisers, commercial real estate brokers, and financial advisors who can evaluate your specific property and circumstances.
    By using this feature, you acknowledge that Realmo is not responsible for investment decisions or actions taken based on these estimates.

    Cap approach

    Capitalization Method calculates value based on estimated net operating income (NOI) and applying a market-based capitalization rate (cap rate), we estimate what a typical investor might be willing to pay for it.

    Comparable approach

    Comparable estimate is based on recent sales of similar nearby properties, adjusted for factors like size, condition, and location.

    Relative

    Relative property class coefficient uses factors that account for typical price differences between various asset types (e.g., retail vs. industrial) to provide a more accurate market-aligned estimate.

    Geo

    Comparable Sales Method, enhanced by Geo coefficients — location-based adjustment factors that reflect differences in price levels across neighborhoods, cities, or regions ensuring a more accurate, market-sensitive valuation.

    Stat Estimate

    This method estimates value based on actual market adjusted recent (~5 years) sales of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all similar sales ($/sqft) are above this value
    • Range-to: 75% of all similar sales ($/sqft) are below this value
    AI Estimate

    This method estimates value based on AI market estimation of comparable properties around by location and property type.

    • Ranges - area data calculated by industry standard IQR Outlier Removal Method
    • Range-from: 75% of all estimations ($/sqft) are above this value
    • Range-to: 75% of all estimations ($/sqft) are below this value
    Alternative use

    Estimate considers the property’s potential value if used for a different purpose-based on zoning, demand, and market feasibility.

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