Metal-Building Self Storage
For Sale
$1,500,000
36-38 Summer St, Oakland, ME 04963
The property also includes a remodeled ranch home with potential for residential or office use.
Property Size11,700 SF
Price / SF$128.21
Days on Market8
Property Features for 36-38 Summer St
General Information
Standard status
Active
Size
11,700 SF
Property subtype
Commercial
Additional Details
Business Included
Yes
Self-Storage Units
65
Amenities
web-based management system
Building Details
Year Built
1979
Stories
1
Construction
metal
Listing Agency:
(207) 310-8592
Listed By:
Carol Kline
Source:
Klinerealtygroup
Added: Oct 16
Changed: Oct 22
Last Checked: Oct 22 at 1:43AM
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 Carol Kline
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Review the available facts, identify missing information and prepare questions for the agent.
Investment Insights
Based on property information with market context.
This self-storage property contains 65 units in metal buildings and uses a web-based management system. The offering also includes a remodeled ranch home with three bedrooms and one bathroom; the home may serve as a residence, office, or rental property.
At 36-38 Summer St in Oakland, the property is described as close to Waterville, Thomas and Colby colleges, and Messalonskee Lake.
At 36-38 Summer St in Oakland, the property is described as close to Waterville, Thomas and Colby colleges, and Messalonskee Lake.
Key Highlights
- 65 self‑storage units
- Metal building construction
- Web‑based management system
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$93,366
Cap Rate
6.22%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,867,320
$1.9M
Cap Rate 7%
$1,333,800
$1.3M
Cap Rate 9%
$1,037,400
$1.0M
Market Conditions
NOI Build-Up for 11,700 SF
Gross rent
$140.4K $12.00/SF
− Vacancy
−$7.0K −$0.60/SF
EGI
$133.4K $11.40/SF
− OpEx
−$40.0K −$3.42/SF
NOI
$93.4K $7.98/SF
Area
Kennebec County, ME
Vacancy
5.00%
Lease Rate
$12.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$1,867,320
Cap Rate 7%
$1,333,800
Cap Rate 9%
$1,037,400
Alternative Uses
Best Use
Warehouse
$17.46M
$15.27M – $20.36M
NOI $1,221,869 @ 7.0% cap · market cap 81.46%
Second Best
Self Storage
$1.33M
$1.17M – $1.56M
NOI $93,366 @ 7.0% cap · market cap 6.22%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
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Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
138
Businesses Nearby
Explore this area
Business Placement
Demographics for 04963, ME
7,358
Population
4,279
Households
1.7
Avg Household Size
45
Median Age
24%
College-Educated
95%
High-School Grad
51.1 sq mi
ZIP Area
144
Density / Sq Mi
$73,611
Median Household Income
$49,913
Median Earnings
$885
Median Rent
$228,200
Median Home Value
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Market
Vacancy Rate% for Industrial in Northeast region
Frequently Asked Questions
What type of property is this?
Self storage facility - The property also includes a remodeled ranch home with potential for residential or office use.
Where is this self storage facility located?
The property is located at 36-38 Summer St Oakland, ME.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: 65 self‑storage units; Metal building construction; Web‑based management system
