Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale a CubeSmart Self Storage facility located at 30747 Dupont Boulevard in Dagsboro, Delaware, directly on Route 113. This highly visible location benefits from Route 113’s role as a major north-south thoroughfare to Bethany Beach and Ocean City, generating excellent exposure with traffic counts exceeding 21,000 vehicles per day. Constructed in 2024, the property has been professionally managed by CubeSmart since November of that year. The facility has already achieved approximately 30 percent physical occupancy in a relatively short period of time, demonstrating strong demand and confirming that ongoing leasing efforts are progressing as expected. With CubeSmart’s established brand and operational expertise, the property is positioned for continued growth as the market expands. Designed with a cost-conscious and eco-friendly approach, the property features a geothermal system that efficiently heats and cools the entire 73,225 net rentable square feet of climate-controlled space, minimizing energy consumption and reducing utility expenses. All water is sourced from an on-site well system, further keeping operating costs in check. The total rentable square footage is 93,215, including 73,225 square feet of climate-controlled units and 19,990 square feet of drive-up non-climate units, as well as 30 outdoor parking spaces to capture the high demand for boat and RV storage in the area. The facility also includes a professional on-site office, along with conditioned drive-in loading bays equipped with two elevators to provide customers with secure, convenient, and weather-protected access to their units. In-place rents currently average $21.18 per square foot, with meaningful upside as lease-up continues. The surrounding communities of Millsboro and Dagsboro are experiencing notable growth driven by new residential neighborhoods, expanding retail centers, and a steady influx of second-home and retirement community residents—all of which are fueling increased demand for high-quality, modern self-storage facilities. This offering presents investors with an exceptional opportunity to acquire a newly constructed, eco-friendly, and institutionally managed asset in a high-growth coastal corridor. With its prime location, strong early lease-up performance, and outstanding operational fundamentals, the property is well-positioned for continued success and long-term value creation.