Self-Storage Facility
MetroVault Self Storage
51 Washington Ave, Cranston, RI 02920
Listing Price: $6,500,000
Investment Overview
Marcus & Millichap is pleased to offer for sale MetroVault Self Storage located in Cranston, Rhode Island. This property features 27,142 net rentable square feet with 179 climate controlled units, 28 non-climate units, six vault/workshop spaces, and 40 parking spaces. The site opened in June 2023 and is currently 91 percent occupied. The town has given preliminary approval for an expansion to triple the square footage through a four-story, climate controlled expansion. The City of Providence currently has a moratorium on self storage development and the current owner benefits from a Tax Stabilization Program that the new owner could also obtain. The site sits in a very dense area that is undersaturated for self storage.
MetroVault Self Storage
Investment Highlights
- Providence, Rhode Island MSA Self Storage Offering with Expansion Opportunity
- Opened in June 2023
- 27,142 Net Rentable Square Feet
- 179 CC Units | 28 NCC Units | Six Vault/Workshop Spaces | 40 Parking Spaces
- City of Providence Currently has a Moratorium on Self Storage Development
Listing Price: $6,500,000
Investment Highlights
- Providence, Rhode Island MSA Self Storage Offering with Expansion Opportunity
- Opened in June 2023
- 27,142 Net Rentable Square Feet
- 179 CC Units | 28 NCC Units | Six Vault/Workshop Spaces | 40 Parking Spaces
- City of Providence Currently has a Moratorium on Self Storage Development
Investment Overview
Marcus & Millichap is pleased to offer for sale MetroVault Self Storage located in Cranston, Rhode Island. This property features 27,142 net rentable square feet with 179 climate controlled units, 28 non-climate units, six vault/workshop spaces, and 40 parking spaces. The site opened in June 2023 and is currently 91 percent occupied. The town has given preliminary approval for an expansion to triple the square footage through a four-story, climate controlled expansion. The City of Providence currently has a moratorium on self storage development and the current owner benefits from a Tax Stabilization Program that the new owner could also obtain. The site sits in a very dense area that is undersaturated for self storage.
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