Self-Storage Facility
State Storage Co
4899 Spring Rd, Shermans Dale, PA 17090
Listing Price: $1,850,000
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
Listing Price: $1,850,000
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
