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Self-Storage Facility

Edgewood Grove Storage

298 North Dr, Somerset, PA 15501

Listing Price: $4,000,000

Cap Rate
6.78%
Number of Units
265
Occupancy
100.0%
Rentable SF
35,100
Price/Rentable SF
$113.96
Year Built
1997

Investment Overview

Edgewood Grove Self Storage is located in the small town of Somerset, Pennsylvania on 298 North Dr and is located roughly 60 miles east of Pittsburgh. Pride of ownership is evident throughout the facility and has been operated at a high level by the original owners since it was built.

The facility has been built in phases with the first phase having been completed in 1993. The facility features 35,100 NRSF of drive up self storage along with 12 multifamily units. The housing breakdown includes 7 houses and an apartment building which contains 5 units.

The 5-mile market is currently at 4.5 SF per capita and there are no new facilities in planning or permitting. Additionally, the facility is currently operating at 100% SF occupancy and 95% Economic Occupancy. The property features 265 Drive Up self storage units, 10 storage buildings (8 of 10 Trachte Buildings), gravel drive aisles, exterior drive aisle lighting, rental office, standing seam metal roof on 8 of 10 buildings and roll up metal doors.

Edgewood Grove has limited late fees, no tenant insurance, and the current street rates are below market average. Adjacent to the property, there is an acre lot that could be purchased and used for expansion.

The property features a very cozy and comfortable office that includes heated floors, a fireplace, a shower, and a bathroom.

Offers are being accepted immediately on this rare opportunity.

Investment Highlights

  • 35,100 NRSF
  • 5-Mile SF Per Capita is 4.5
  • Economic Occupancy of 95%
  • Physical Occupancy of 100%
  • No New Facilities in Planning/Permitting in a 3-Mile or 5-Mile Radius
  • The facility features 7 houses and 5 apartment units

Exclusively Listed By

Financing By

Self-Storage Facility

Edgewood Grove Storage

Listing Price: $4,000,000

Cap Rate
6.78%
Number of Units
265
Occupancy
100.0%
Rentable SF
35,100
Price/Rentable SF
$113.96
Year Built
1997

Investment Highlights

  • 35,100 NRSF
  • 5-Mile SF Per Capita is 4.5
  • Economic Occupancy of 95%
  • Physical Occupancy of 100%
  • No New Facilities in Planning/Permitting in a 3-Mile or 5-Mile Radius
  • The facility features 7 houses and 5 apartment units

Investment Overview

Edgewood Grove Self Storage is located in the small town of Somerset, Pennsylvania on 298 North Dr and is located roughly 60 miles east of Pittsburgh. Pride of ownership is evident throughout the facility and has been operated at a high level by the original owners since it was built. The facility has been built in phases with the first phase having been completed in 1993. The facility features 35,100 NRSF of drive up self storage along with 12 multifamily units. The housing breakdown includes 7 houses and an apartment building which contains 5 units. The 5-mile market is currently at 4.5 SF per capita and there are no new facilities in planning or permitting. Additionally, the facility is currently operating at 100% SF occupancy and 95% Economic Occupancy. The property features 265 Drive Up self storage units, 10 storage buildings (8 of 10 Trachte Buildings), gravel drive aisles, exterior drive aisle lighting, rental office, standing seam metal roof on 8 of 10 buildings and roll up metal doors. Edgewood Grove has limited late fees, no tenant insurance, and the current street rates are below market average. Adjacent to the property, there is an acre lot that could be purchased and used for expansion. The property features a very cozy and comfortable office that includes heated floors, a fireplace, a shower, and a bathroom. Offers are being accepted immediately on this rare opportunity.

Exclusively Listed By

Financing By

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