Charlestown, NH NAI Norwood Group completed the $1 million sale of 3507 Claremont Rd. The site is a 20,200 s/f multifamily/self-storage mixed use property consisting of 23 apartments and 59 self-storage units.
Joe Mendola and Joe Robinson of NAI Norwood Group represented the seller.
Robinson said “We’re very happy for our client. This investment property was unique due to its location in a tertiary market and mixed use.”
The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units.
As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.