Retail and Self-Storage Investment Property Palmyra, ME

Property Location MAP

1448 Main Street
Palmyra, ME 04965

Property #: AP25064

Contact Agent

Mike Carey
Tranzon Auction Properties

207-776-1936 mcarey@tranzon.com
Auction Opportunity - Multi-Income Investment Property in Central Maine
 
Tranzon Auction Properties is pleased to present 1448 Main Street, Palmyra, Maine - a rare investment opportunity with stable in-place income and room for growth. Strategically located on US Route 2 and just one mile from I-95 (Exit 157), this 3.1+/- acre property offers visibility, accessibility, and a strong tenant mix that includes commercial, residential, and storage uses.
 
The property is improved by five well-maintained buildings totaling approximately 9,528+/- square feet. At the front is a 3,360+/- sq. ft. retail space currently leased to Numotion, under a six-year term, providing a reliable anchor tenant. Adjacent to the retail operation is a modern 3-bedroom, 2-bath single-family home with an attached garage - perfect for an owner-occupant or residential tenant. A detached garage adds further rental or personal-use flexibility.
 
At the rear of the property are 34 self-storage units of various sizes generating steady income. There is ample space to add additional self-storage, if desired. Additionally, a portion of the land is under a separate land lease, offering yet another revenue stream. The entire site has been thoughtfully maintained, with no immediate capital improvement needs, making it truly turn-key.
 
The current configuration provides a strong mix of uses that reduce risk through diversification, while the high occupancy and lease terms offer predictability for investors. Whether you're looking for stable cash flow, a 1031 exchange opportunity, or a multi-use asset with future upside, this property checks all the boxes.
 
Palmyra is a growing commercial hub just west of Newport, serving as a key retail corridor for the region. National retailers including Walmart are located nearby, and the area continues to draw residential and business development due to its convenient location and low operating costs.
 
Don't miss your chance to acquire this high-performing property at auction in July. Contact Tranzon Auction Properties today to schedule a tour or access due diligence materials.
 
Michael B. Carey | ME AUC Lic. 1466 | ME RE Lic. #DB919594

The following summary of Terms & Conditions of Auction Sale is only intended to provide you a brief outline. For a complete copy, either download the Property Information Package, if available, or contact Mike Carey

Mike Carey: Tranzon Auction Properties

207-776-1936 mcarey@tranzon.com

All bidders must agree to all of the Terms & Conditions of Auction Sale prior to bidding at any Tranzon auction. Listings may be withdrawn or modified without notice at anytime.

For general information on the auction process, please review the Frequently Asked Questions.

Print Terms and Conditions

  • Buyer's Premium: 10% Buyer's Premium based on the high bid.
  • Closing: 45-day closing, sold in As-Is condition, no contingencies.
  • Deposit Amount: $10,000, in certified funds, as a non-refundable deposit, within twenty-four (24) hours of auction end. Deposit to be increased to equal ten percent (10%) of purchase price (high bid + buyer’s premium) within five (5) business days.
  • Buyer Agent Compensation: 2% of the high bid will be paid to a properly registered buyer's agent at settlement.
  • Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller only.
  • Disclaimer: Information contained herein is believed to be correct to the best of auctioneer/agent's knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions. All square footage and other dimensions are approximate. This offering is subject to prior sale and may be withdrawn, modified or cancelled at any time without notice.

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