Self-Storage Facility
MetroVault Self Storage
51 Washington Ave, Cranston, RI 02920
Listing Price: Request For Offer
Investment Overview
Marcus & Millichap is pleased to offer for sale MetroVault Self Storage located in Cranston, Rhode Island. This property features 27,516 net rentable square feet with 179 climate controlled units, 28 non-climate units, 6 vault/workshop spaces, and 40 parking spaces. The site opened in June 2023 and is already 66% occupied. There is room for an additional 25,000 NRSF climate controlled expansion building as well. 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 post expansion. The site sits in a very dense area that is undersaturated for self storage.
MetroVault Self Storage
Investment Highlights
- Providence, RI MSA Self Storage Offering
- Opened in June 2023
- Quick Lease-Up: 66 Percent Physical Occupancy Within First Year of Opening
- 27,516 Net Rentable Square Feet
- Room for Additional 25,000 Net Rentable Square Feet Climate Controlled Expansion Building
Listing Price: Request For Offer
Investment Highlights
- Providence, RI MSA Self Storage Offering
- Opened in June 2023
- Quick Lease-Up: 66 Percent Physical Occupancy Within First Year of Opening
- 27,516 Net Rentable Square Feet
- Room for Additional 25,000 Net Rentable Square Feet Climate Controlled Expansion Building
Investment Overview
Marcus & Millichap is pleased to offer for sale MetroVault Self Storage located in Cranston, Rhode Island. This property features 27,516 net rentable square feet with 179 climate controlled units, 28 non-climate units, 6 vault/workshop spaces, and 40 parking spaces. The site opened in June 2023 and is already 66% occupied. There is room for an additional 25,000 NRSF climate controlled expansion building as well. 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 post expansion. The site sits in a very dense area that is undersaturated for self storage.
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