65-Unit Self Storage
For Sale
$1,500,000
3638 36-38 Summer St, Oakland, ME 04963
Metal construction, digital management, and an accompanying remodeled ranch home broaden the property's operational flexibility.
Property Size11,700 SF
Price / SF$128.21
Days on Market73
Property Features for 3638 36-38 Summer St
General Information
Standard status
Active
Size
11,700 SF
Additional Details
Business Included
Yes
Self-Storage Units
65
Building Details
Year Built
1979
Construction
metal
Listing Agency:
Harcourts Waterfront & Fine Properties
Listed By:
Charlene Hamiwka
(207) 230-1003
Source:
Aroostookrealestate
Added: Aug 4
Changed: Sep 13
Last Checked: Oct 7 at 1:56PM
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 Harcourts Waterfront & Fine Properties
Investment Insights
Based on property information with market context.
The property is a self-storage facility comprising 65 units and 11,700 square feet, with durable metal construction and a web-based management system. The package also includes a remodeled ranch home with 3 bedrooms and 1 bathroom, offering potential for use as a residence, office, or rental property.
Located in Oakland, the facility is near Waterville, Thomas, and Colby colleges, as well as Messalonskee Lake. This setting places the property near student, faculty, and lake-house communities identified as potential storage users.
Located in Oakland, the facility is near Waterville, Thomas, and Colby colleges, as well as Messalonskee Lake. This setting places the property near student, faculty, and lake-house communities identified as potential storage users.
Key Highlights
- 65 self‑storage units within 11,700 square feet
- Durable metal 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.
How Realmo checks its estimates
Property Analytics
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
12
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
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Metal construction, digital management, and an accompanying remodeled ranch home broaden the property's operational flexibility.
Where is this self storage facility located?
The property is located at 3638 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 within 11,700 square feet; Durable metal construction; Web‑based management system
