Investment Overview

Marcus & Millichap is pleased to present Salt Grass Farms Mini Storage Development, a premier investment opportunity in Ocean City, Maryland. This shovel-ready project encompasses a total of 75,018 gross square feet across eight planned buildings, with approximately 22,075 net rentable square feet dedicated to climate-controlled units and roughly 46,300 net rentable square feet for drive-up access. The facility is strategically located directly in front of Assateague Pointe, which features over 500 homes, enhancing the potential customer base for the facility. The current owner received an appraisal on the raw land in February of 2023 for $1,600,000. Situated approximately 1 mile from Ocean City Municipal Airport, this development benefits from excellent visibility and accessibility, targeting the growing demand for self-storage in the southern Ocean City and Berlin areas. The Ocean City market is characterized by a robust seasonal tourism influx, with a population that swells significantly during peak summer months. This seasonal dynamic creates a heightened need for storage solutions, as both residents and visitors seek convenient options for storing recreational vehicles, boats, and personal belongings. Moreover, the area currently lacks sufficient self-storage facilities, indicating a substantial gap between supply and demand that positions this development for strong occupancy rates and rental growth. With all necessary approvals secured, construction can commence immediately, allowing for rapid market entry. This unique opportunity features the potential for various unit sizes to accommodate a wide range of customer needs. Investors can capitalize on this rare chance to own and develop a self-storage facility in a high-demand location, poised for strong rental income and long-term appreciation.