Self-Storage Facility
Y-Knot Self Storage
616 Wallace Hill Rd, Plattsburgh, NY 12901
Listing Price: $2,460,000
Investment Overview
Y-Knot Self Storage is a 20,400 +/- NRSF facility that began leasing the first building in 2021 and achieved 100% occupancy within the first 3 months. A building has been added each year since 2021 with lease up occuring on each buidling within 3 to 5 months. Today the property has 4 buildings and occupancy is at 84% with the most recent building opening in April of 2024.
The property features 179 drive up storage units with an average unit size of 114 SF. In addition to the existing storage, the seller has an additional 20,400 NRSF of drive up storage approved for a future expansion. Currently, the market is at 8.2 SF per capita in a 5-mile radius with a drive up self storage rental rate average of $11.40 annually.
Y-Knot Self Storage features gravel drive aisles, security cameras, metal buildings, concrete pads, security fencing, automated gate, Davinci lock system and a standing seam metal roof on each building. The property runs parallel to Route 374, which features just over 6,900 vehicles per day traveling in front of the facility.
The facility is located approximately 20 miles south of the Canadian border and 5-miles west of Lake Champlain which separates New York state and the state of Vermont. Plattsburgh, NY is located in Clinton County and features a population of just over 31,000.
Listing Price: $2,460,000
Investment Highlights
- 20,400 +/- NRSF of Drive Up Self Storage
- Additional Land Approved for additional 20,400 +/- GSF Expansion
- First Building Opened in 2021 with One Building Added Each Year After
- Annual Rental Rates of $11.40 Per SF
- Population of 35,000 +/- in a 5-Mile Radius
Investment Overview
Y-Knot Self Storage is a 20,400 +/- NRSF facility that began leasing the first building in 2021 and achieved 100% occupancy within the first 3 months. A building has been added each year since 2021 with lease up occuring on each buidling within 3 to 5 months. Today the property has 4 buildings and occupancy is at 84% with the most recent building opening in April of 2024. The property features 179 drive up storage units with an average unit size of 114 SF. In addition to the existing storage, the seller has an additional 20,400 NRSF of drive up storage approved for a future expansion. Currently, the market is at 8.2 SF per capita in a 5-mile radius with a drive up self storage rental rate average of $11.40 annually. Y-Knot Self Storage features gravel drive aisles, security cameras, metal buildings, concrete pads, security fencing, automated gate, Davinci lock system and a standing seam metal roof on each building. The property runs parallel to Route 374, which features just over 6,900 vehicles per day traveling in front of the facility. The facility is located approximately 20 miles south of the Canadian border and 5-miles west of Lake Champlain which separates New York state and the state of Vermont. Plattsburgh, NY is located in Clinton County and features a population of just over 31,000.
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