Build/Occupy/Lease Contractor Bays

[Michael Currier]

Hi all,

I am a full time engineer slowly building a side business related to mechanical fabrication/design work. I've outgrown my current space and am looking to expand. At the same time I am looking to relocate to (more southern) Maine, into York county. Many towns where I am looking have zoning which allows many uses ranging from SFH, multi, and light comm/industrial. My thought is to purchase and build a roughly 5K SF building that provides (5) 1K SF contractor bays, complete with high bay and bathroom/office at one end. I would occupy two of these and lease the other three. One retained unit would also include a small apt if allowed, but not required.

As my full time position is related to building/envelopes/structures, the construction of the project does not overwhelm me, however I am very fresh to the idea of dealing with leasing, financing, and managing as well as ensuring that there is actually a market for such spaces.  I do have some contacts who are very experienced in comm property management and believe I could pass the day to day onto them so I can manage my own business.

While popular along the 93/95 corridor, I do not see these types of contract bays/rentals very often in Maine, and am wondering if anyone on here has experience with them (regardless of location).

Thank you!

Michael