AUBURN – George Schott, the owner of Harleys-R-U.S. in Lewiston, is buying the empty Wal-Mart.

The deal is expected to close Friday. Schott said he plans to divide the massive retail space into several smaller stores with at least one national anchor.

None of the new tenants are lined up yet. This winter he may use the space to store Humvees. He owns dozens of the military surplus vehicles, sometimes leasing them to movie makers.

The Wal-Mart property at 105 Mt. Auburn Ave. has sat vacant for two years, ever since the much larger Supercenter opened across the street. It’s valued at $5.7 million by the Auburn Assessor’s Office.

It’s sale price was not disclosed.

Schott said he began looking for a new investment after getting an offer on his other real estate holding, Auburn Plaza, several months ago. Auburn Plaza includes Hoyts Cinemas and T.J. Maxx.

Since buying that Center Street plaza in 1999, Schott attracted Northern Mattress and Furniture, Craft-Mania, Family Dollar and a dozen other smaller shops. He attributed the success to negotiation and “working through a lot of Realtors.”

GFI Auburn Plaza Realty LLC, a Boston company, bought Auburn Plaza last week. The city valued that property at $8.8 million. Records in the Androscoggin County registry of deeds indicate GFI took out an $8.1 million mortgage.

The Auburn Plaza was sold with the leases in place, according to Craig Young, a senior broker at CB Richard Ellis/The Boulos Company. He represented Schott in that sale and the impending purchase of Wal-Mart.

GFI is a privately owned real estate and development company, he said. This is its first acquisition in Maine.

“I think that they are seeking to fill” the 50,000-square-foot former Service Merchandise “and have some interest,” Young said. There could also be development in the giant parking lot of the plaza: one or two free-standing stores or restaurants.

Schott is contemplating parking lot development at the former Wal-Mart as well, either banks or restaurants.

His new property has the right location, the right traffic, Schott said. He envisions it housing two to four stores, each with an exterior entrance.

“I’m convinced it’s hard to find a use for the whole space,” he said.

The area could use something like a Burlington Coat Factory, a TJ Maxx Plus, a large sporting goods store or a linen shop, he said.

“I’ve found with national tenants you can’t buy them in. You have to be ready for them and willing to negotiate,” Schott said.

Until then, Schott, who also deals in surplus military vehicles, said he may use the property for vehicle storage.

Mia Masten, Wal-Mart consumer affairs manager for the Eastern region, declined to comment on the sale until it was finalized at the end of the week.

A real estate listing for the property at the Rockwood Exchange described the building as being 116,863 square feet with 15.15 acres. It was built in 1992.

kskelton@sunjournal.com