Investment Overview

Acord Self Storage Marcus & Millichap is pleased to present the exceptional self-storage investment opportunity located at 530 Main Street in Richmond, Maine. The property features a long-established self-storage business offering investors significant upside potential, minimal operational risk, and multiple avenues for future income growth. The self-storage asset consists of 21,258 total rentable square feet, 174 drive-up and interior units, 400 square feet of office space, and a 2,400 square-foot space leased to an auto mechanic shop. The property also offers expansion opportunity of adding approximately 20 outdoor boat and RV parking spaces & 5 car spaces or additional modular units—allowing a new owner to expand operations and increase revenue over time. Recent capital improvements include the installation of new gutters on all original buildings, professionally refastened original roofs, and a fully repaved parking lot, significantly reducing near-term maintenance requirements while enhancing the property's long-term value. The property presents an attractive and well-maintained appearance, featuring two brand-new storage buildings, an electronic monument sign that provides high-visibility advertising, upgraded original buildings, and a freshly repaved parking area. Notably, rental rates have been adjusted only once during the past 20 years, creating a meaningful opportunity to increase revenue through strategic rent optimization with limited anticipated market resistance. The existing office space offers the potential to generate at least $1,500 per month in additional income, while the already paved site simplifies the permitting process for future expansion since no new impervious surface would be required. Strong traffic flow, excellent accessibility, reduced property taxes following the town's recent revaluation, and a history of conservative management further position this offering as an attractive investment with immediate and long-term upside. Ames Self Storage Marcus & Millichap is pleased to present the excellent self-storage investment opportunity located at 307 Front Street in Richmond, Maine. Currently operated remotely through modern management software; the four-story facility offers investors an efficient, low-overhead operation with substantial value-add potential. The first floor features 91 interior climate-controlled units totaling 8,637 net rentable square feet. The second through fourth floors feature 5 retail tenants occupying 14,072 net rentable square feet. The property also features a fully modernized fire-safety infrastructure, including enhanced sprinkler monitoring, a state-compliant elevator that has completed its required five-year, 5,000-pound load test, and fully compliant sprinkler, monitoring, fire extinguisher, backflow prevention, and elevator systems. Fully rehabilitated from top to bottom, the building presents an impressive appearance that seamlessly blends historic character with modern functionality. Recent improvements include a resurfaced roof, a modern multi-fuel heating system, upgraded electrical service with new lighting throughout all four floors, all-new ADA-compliant bathrooms and entrances, and a covered loading dock with an isolated loading area capable of accommodating everything from passenger vehicles to full tractor-trailers. Overall, capex exceeding $1 million has been invested into the asset since 2018, most recently a new $100,00 roof upgraded in July 2026. This turnkey investment offers exceptional long-term stability, supported by longstanding commercial tenants including Maine Medicinals and Coastal Distributors, both of which have occupied the property for approximately 15 years. During the current ownership, the commercial space experienced only one month of vacancy over eight years, demonstrating remarkably consistent occupancy. Located just 3.3 miles from Interstate 295, the property offers excellent accessibility for both commercial tenants and storage customers. With rental rates unchanged since opening in 2023, a new owner can immediately pursue rent optimization while implementing stronger marketing strategies to increase occupancy, creating a rare opportunity to acquire a meticulously upgraded asset with dependable cash flow and significant upside potential.