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Self-Storage Facility

State Storage Co

4899 Spring Rd, Shermans Dale, PA 17090

Listing Price: $1,850,000

Cap Rate
6.44%
Number of Units
111
Occupancy
100.0%
Rentable SF
15,925
Price/Rentable SF
$116.17
Year Built
2022

Investment Overview

OFFERS DUE 5/18/2023 Marcus & Millichap is pleased to exclusively offer for sale State Storage Co located in Shermans Dale, PA. This facility was built in 2022 and was in full operation in May of 2022. Due to high demand in the area, the facility was 97% physically occupied by August of 2022. State Storage Co sits along Spring Rd which sees over 12,000 cars daily, driving the strong occupancy since opening. The current owners run the facility completely remotely which has kept the overhead low and NOI high. This will allow a new owner to continue low overhead operations while pushing rates up to market standard. State Storage Co currently sits below market rates as current ownership was focused on the lease-up of the facility. Upside in this deal resides in rate management and tenant insurance while retaining occupancy.

Investment Highlights

  • 5.7 SF of Storage Within 5-Miles
  • Newly Built & Opened in 2022
  • Filled to 97% Physical Occupancy Within 3 Months
  • Remotely Managed
  • Upside Through Rate Management and Tenant Insurance While Retaining High Occupancy

Exclusively Listed By

Financing By

Self-Storage Facility

State Storage Co

Listing Price: $1,850,000

Cap Rate
6.44%
Number of Units
111
Occupancy
100.0%
Rentable SF
15,925
Price/Rentable SF
$116.17
Year Built
2022

Investment Highlights

  • 5.7 SF of Storage Within 5-Miles
  • Newly Built & Opened in 2022
  • Filled to 97% Physical Occupancy Within 3 Months
  • Remotely Managed
  • Upside Through Rate Management and Tenant Insurance While Retaining High Occupancy

Investment Overview

OFFERS DUE 5/18/2023 Marcus & Millichap is pleased to exclusively offer for sale State Storage Co located in Shermans Dale, PA. This facility was built in 2022 and was in full operation in May of 2022. Due to high demand in the area, the facility was 97% physically occupied by August of 2022. State Storage Co sits along Spring Rd which sees over 12,000 cars daily, driving the strong occupancy since opening. The current owners run the facility completely remotely which has kept the overhead low and NOI high. This will allow a new owner to continue low overhead operations while pushing rates up to market standard. State Storage Co currently sits below market rates as current ownership was focused on the lease-up of the facility. Upside in this deal resides in rate management and tenant insurance while retaining occupancy.

Exclusively Listed By

Financing By

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