Investment Overview

Penn Township Self Storage openend in December of 2023 and is located approximately 25 miles north of Pittsburgh, PA or a 30 minute drive to downtown Pittsburgh. The property is located on Route 8, also known as Pittsburgh Rd., which has over 16,000 vehicles per day traveling north and south bound in front of the property. Route 8 is the main artery for travelers between Butler, PA and Pittsburgh, PA. Penn Towsnhip Self Storage has achieved 31% unit occupancy within 8 months. The property benefits from low compeitition within a 5-mile radius of the facility, which has less then 20,000 SF of self storage within a 5-mile competitive ring. Per Radius + there aren't any new self storage projects in the entitlement or permitting phases within a 10-mile radius of the property. Due to the large unit mix average at this facility, 178 SF average, ownership has kept 10 x 20 pricing at $150 per month due to the high volume of 200 SF units on the property. The market average on a 10 x 20 within a 10-mile radius was $273 in the month of July as a result of website price tracking. The property may benefit from raising street rates and offering a short term discount to achieve aggressive lease up on 10 x 20 units. The property may also benefit from adjusting the unit mix from a high quantity of 10 x 20 units, 66 units currently, to more 10 x 10 and 10 x 15 units which has a total count of 11 combined. Penn Township Self Storage has the potential to be a great investment for an investor looking to add a brand new property to their portfolio. Due to the size of the property, it would be ideal for a remote management strategy with limited onsite staff, online rental programs, mandatory credit card payments and a call center to handle inbound calls and rental inquiries. Ideally, the implementation of technology to manage most aspects of the property, with limited in person requirements, is what could make this investment successful into the future.