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Self-Storage Facility

Old South Self Storage

54 Old South Rd, Nantucket, MA 02554

Listing Price: $9,750,000

Cap Rate
5.55%
Number of Units
205
Occupancy
95.0%
Rentable SF
17,344
Price/Rentable SF
$562.15
Year Built
2018

Investment Overview

CALL FOR OFFERS - JULY 16TH

Old South Self Storage, located at 54 Old South Road in Nantucket, opened in 2018 and has been privately owned/operated since. The current ownership's meticulous care and maintenance is evident throughout the property.

It offers 17,344 NRSF of Indoor Climate-Controlled Self-Storage in its 198 units along with 7 Parking Spaces. Consistently situated between 90-100% occupancy since stabilization, the property benefits from a premier location in the primary commercial district of Nantucket Island. Old South is one of only four storage facilities currently operating on the island. Strict zoning regulations, a lack of developable land, isolation from the mainland, and a robust residential real estate market create a perfect market for Self-Storage. Nantucket boasts some of the strongest storage rates in the country, boasting an average annual price per sf. of $40.09 on 10 x 10's on a trailing 12 month basis, with that number climbing even higher during peak season.


The property features electronic gate access, keypad access to interior hallway units, security cameras, fencing surrounding the facility, interior hallway lighting, exterior drive aisle lighting, paved drive aisles, second floor elevator access, managers office with separate area for packing/moving supplies. Additionally, the property has roof installed solar panels to assist with the reduction in energy expenses.

Investment Highlights

  • 17,344 NRSF of Climate Controlled Storage
  • 10x10 Climate Control Averaging $41.09/SF Over Trailing 12 Months
  • Physical Occupancy of 95%
  • Economic Occupancy of 93.39%
  • Privately Owned and Operated Since Opening in 2018
  • Extremely High Barrier To Entry For Storage Due To Strict Zoning Regulations

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Vice President/Regional Manager

    (617) 896-7220

    License(s) MA: 1000485

    Massachusetts

Financing By

Self-Storage Facility

Old South Self Storage

Listing Price: $9,750,000

Cap Rate
5.55%
Number of Units
205
Occupancy
95.0%
Rentable SF
17,344
Price/Rentable SF
$562.15
Year Built
2018

Investment Highlights

  • 17,344 NRSF of Climate Controlled Storage
  • 10x10 Climate Control Averaging $41.09/SF Over Trailing 12 Months
  • Physical Occupancy of 95%
  • Economic Occupancy of 93.39%
  • Privately Owned and Operated Since Opening in 2018
  • Extremely High Barrier To Entry For Storage Due To Strict Zoning Regulations

Investment Overview

CALL FOR OFFERS - JULY 16TH Old South Self Storage, located at 54 Old South Road in Nantucket, opened in 2018 and has been privately owned/operated since. The current ownership's meticulous care and maintenance is evident throughout the property. It offers 17,344 NRSF of Indoor Climate-Controlled Self-Storage in its 198 units along with 7 Parking Spaces. Consistently situated between 90-100% occupancy since stabilization, the property benefits from a premier location in the primary commercial district of Nantucket Island. Old South is one of only four storage facilities currently operating on the island. Strict zoning regulations, a lack of developable land, isolation from the mainland, and a robust residential real estate market create a perfect market for Self-Storage. Nantucket boasts some of the strongest storage rates in the country, boasting an average annual price per sf. of $40.09 on 10 x 10's on a trailing 12 month basis, with that number climbing even higher during peak season. The property features electronic gate access, keypad access to interior hallway units, security cameras, fencing surrounding the facility, interior hallway lighting, exterior drive aisle lighting, paved drive aisles, second floor elevator access, managers office with separate area for packing/moving supplies. Additionally, the property has roof installed solar panels to assist with the reduction in energy expenses.

Exclusively Listed By

Broker of Record

  • Thomas Shihadeh

    Vice President/Regional Manager

    (617) 896-7220

    License(s): MA: 1000485

    Massachusetts

Financing By

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