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Self-Storage Facility

495 Movers- Elkridge Storage

6345 Howard Ln, Elkridge, MD 21075

Listing Price: $2,100,000

Cap Rate
6.42%
Number of Units
237
Occupancy
63.7%
Gross SF
14,000
Rentable SF
10,350
Price/Rentable SF
$202.90
Year Built
1986

Investment Overview

Marcus & Millichap is pleased to exclusively represent 495 Movers/Elkridge Storage in the sale of their Self-Storage facility. Elkridge Storage sits within a business park connected to route 1 which sees over 27,300 average vehicles per day. Elkridge Storage is currently operated within 495 Movers as a warehouse for their moving company which allows them to charge above average rates for the surrounding market. An investor would benefit from allowing their competitors (all of which are REITs) to drive rates and having this facility under those rates. With only 6.8 SF Per Capita within 3 miles & no new facilities in planning/permitting, this facility will benefit greatly from introducing below market rates to boost occupancy and drive revenue. Offers are being accepted immediately for this opportunity!

Investment Highlights

  • Management Upside Through Adjusting Rental Rates & Adding Ancillary Income
  • 6.8 SF/Capita Of Existing Storage
  • No New Facilities In Planning/Permitting in 3-Mile or 5-Mile Radius
  • Brand New Pavement, Concrete, and Gate

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (201) 742-6100

    License(s) MD: 5005538

    Maryland

Financing By

Self-Storage Facility

495 Movers- Elkridge Storage

Listing Price: $2,100,000

Cap Rate
6.42%
Number of Units
237
Occupancy
63.7%
Gross SF
14,000
Rentable SF
10,350
Price/Rentable SF
$202.90
Year Built
1986

Investment Highlights

  • Management Upside Through Adjusting Rental Rates & Adding Ancillary Income
  • 6.8 SF/Capita Of Existing Storage
  • No New Facilities In Planning/Permitting in 3-Mile or 5-Mile Radius
  • Brand New Pavement, Concrete, and Gate

Investment Overview

Marcus & Millichap is pleased to exclusively represent 495 Movers/Elkridge Storage in the sale of their Self-Storage facility. Elkridge Storage sits within a business park connected to route 1 which sees over 27,300 average vehicles per day. Elkridge Storage is currently operated within 495 Movers as a warehouse for their moving company which allows them to charge above average rates for the surrounding market. An investor would benefit from allowing their competitors (all of which are REITs) to drive rates and having this facility under those rates. With only 6.8 SF Per Capita within 3 miles & no new facilities in planning/permitting, this facility will benefit greatly from introducing below market rates to boost occupancy and drive revenue. Offers are being accepted immediately for this opportunity!

Exclusively Listed By

Broker of Record

  • Brian Hosey

    First Vice President/ Division Manager

    (201) 742-6100

    License(s): MD: 5005538

    Maryland

Financing By

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