ONLINE AUCTION
Multi-Income Investment Property in Central Maine
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.
BIDDING OPENS: 7/15/25 @ 1PM ET
BIDDING CLOSES: 7/22/25 @ 1PM ET
Sale in Cooperation with Tranzon Auction Properties
Michael B. Carey | ME AUC Lic. 1466 | ME RE Lic. #DB919594