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    Property profile & analytics

    688 Manchester Rd Belgrade, ME 04917

    • Self storage facilities
    • 16,000 SF
    • 6.78 lot acres
    For Sale
    View listing
    $1,695,000
    Value Estimations
    Cap Rate Potential
    Location Intelligence
    Property ID
    US42-0357560
    The Realmo ID is a unique identifier assigned to every property, incorporating country codes and precise geo-coordinates for 300x300-foot land blocks. It enables standardized data collection and seamless integration of disparate sources such as ownership, tax, title data and physical specifications. By aggregating current and historical records, the Realmo ID powers advanced analytics and delivers deep, verifiable insights for real estate professionals.

    Current Use by Public Records

    • All Purpose Storage / Self-Storage Facility / Automobile Storage Facility
    • Maple Leaf Self Storage / Self-Storage Facility
    • All Purpose Storage - Belgrade / Self-Storage Facility

    Property Details for 688 Manchester Rd

    Lot size
    6.78 lot acres
    Property size
    16,000 SF
    Property type
    Self storage facilities
    APN
    Map 4, Block A, Lot 23

    Description

    This exceptional self-storage investment opportunity encompasses a five-building complex situated on a 6.78-acre lot in Belgrade, Maine (APN: Map 4, Block A, Lot 23). The property, currently operating as a 100-unit self-storage facility, boasts a total of approximately 16,000 square feet of existing space. Buildings were constructed in phases between 2006 and 2019, all single-story structures with 10-foot ceilings. Unit sizes vary, ranging from compact 10'x5' units to larger 10'x30' units, catering to a diverse range of storage needs. The property is zoned Rural and offers significant expansion potential, with approved plans for an additional 23,100 square feet of space. This well-established business is located in the desirable Belgrade Lakes region of Central Maine, benefiting from a strong local market and high demand for self-storage solutions. The asking price for this turnkey operation is $1,695,000. All Purpose Storage Belgrade LLC currently owns the property.

    Value Estimations

    based on Realmo’s proprietary methodology

    • AI approach

    • CAP approach

    • Comparable approach

    • Alternative Use

    Get a detailed, property-specific valuation — fast and free

    Location Insight

    • Map
    • Local Demand
    City
    Belgrade
    County
    Kennebec
    State
    Maine
    Longitude
    -69.855104550472
    Latitude
    44.429372620803

    Comparable in this City

    • $1,350,000
      16,000 SF

      Self-Storage Facility in Belgrade, ME

      100-unit self-storage facility with expansion plans in Belgrade, ME.
      688 Manchester Rd, Belgrade, ME 04917
      View Details
    • $269,000
      57.00 Acres

      Belgrade Land with Water Frontage

      Land with frontage on Belgrade Stream and Hoyt Brook.
      Bartlett Rd, Belgrade, ME 04917
      View Details
    • $239,000
      1,040 SF

      Belgrade Commercial Property - Route 27

      High-visibility commercial lot, 1040 sq ft garage.
      991 Augusta Rd, Belgrade, ME 04917
      View Details
    • $785,000
      2,200 SF

      Lakeside Retreat with Two Houses

      Charming property on 3.89 acres with 358ft waterfront.
      117 Taylor Woods Rd, Belgrade, ME 04917
      View Details
    • $699,000
      17.00 Acres

      Belgrade, ME Sand and Gravel

      Sand and gravel pit with estimated 300,000 yards remaining.
      Horse Point Rd, Belgrade, ME 04917
      View Details
    • $975,000
      3,878 SF

      Lakeside Investment Compound in Belgrade, ME

      Multi-building income property on 6 acres with lake frontage.
      333 Smithfield Rd, Belgrade, ME 04917
      View Details

    Similar Nearby for Sale

    • $1,350,000
      16,000 SF

      Self-Storage Facility in Belgrade, ME

      100-unit self-storage facility with expansion plans in Belgrade, ME.
      688 Manchester Rd, Belgrade, ME 04917
      View Details
    • $269,000
      57.00 Acres

      Belgrade Land with Water Frontage

      Land with frontage on Belgrade Stream and Hoyt Brook.
      Bartlett Rd, Belgrade, ME 04917
      View Details
    • $239,000
      1,040 SF

      Belgrade Commercial Property - Route 27

      High-visibility commercial lot, 1040 sq ft garage.
      991 Augusta Rd, Belgrade, ME 04917
      View Details
    • $785,000
      2,200 SF

      Lakeside Retreat with Two Houses

      Charming property on 3.89 acres with 358ft waterfront.
      117 Taylor Woods Rd, Belgrade, ME 04917
      View Details
    • $699,000
      17.00 Acres

      Belgrade, ME Sand and Gravel

      Sand and gravel pit with estimated 300,000 yards remaining.
      Horse Point Rd, Belgrade, ME 04917
      View Details
    • $975,000
      3,878 SF

      Lakeside Investment Compound in Belgrade, ME

      Multi-building income property on 6 acres with lake frontage.
      333 Smithfield Rd, Belgrade, ME 04917
      View Details
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    688 Manchester Rd
    Belgrade, ME 04917
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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.

    More about this property
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