Self-Storage Facility
Development - Easton, PA
1400 Uhler Rd, Easton, PA 18040
Listing Price: $2,500,000
Investment Overview
The Easton Self Storage Development is located in Easton, PA, which is located just outside of Allentown, PA in the Lehigh Valley. The property encompasses 26.54 +/- acres of Light Industrial zoned land with self storage as a permitted use. The property is located on Uhler Rd., which has just over 12,000 VHPD traveling in front of the property.
The property is in a low-density self storage market with a population of just over 100,000 in a 5-mile radius and a saturation rate of 4.5 SF per capita. In the 5-mile competitive radius there are no new self storage projects in planning or permitting. One competitor has approvals to complete an expansion for an additional 36,000 GSF, but this expansion has been approved for close to a decade without any progress made to complete the expansion work.
Due to the lack of competition, the 5-mile market has enjoyed steady rental rates with 10 x 10 climate controlled self storage renting at $22 per sf annually. The drive-up rates in the market have been consistently between $18 - $20 on 10 x 10 and 10 x 15 drive-up units. Population is expected to grow at just below 1% through 2030.
The Easton Self Storage Development is not currently entitled, and a buyer would have to receive a full set of entitlements on the project prior to development.
Development - Easton, PA
Investment Highlights
- 315 Climate Controlled & 430 Non-Climate Controlled Drive-Up Units Proposed in Growing Easton, PA
- Proposed Unit Mix Contains 85,000 SF of Rentable Self-Storage Space
- Strong Surrounding Demographics; 5-Mile Population of 102,508 with a Median Income of $104,395
- 4.8 Square Feet per Capita, Adjusted to Include Future Supply
- Property is Located 0.88 Miles from Route 33, a Major Connector Between I-78 and I-80
Exclusively Listed By
Financing By
Listing Price: $2,500,000
Investment Highlights
- 315 Climate Controlled & 430 Non-Climate Controlled Drive-Up Units Proposed in Growing Easton, PA
- Proposed Unit Mix Contains 85,000 SF of Rentable Self-Storage Space
- Strong Surrounding Demographics; 5-Mile Population of 102,508 with a Median Income of $104,395
- 4.8 Square Feet per Capita, Adjusted to Include Future Supply
- Property is Located 0.88 Miles from Route 33, a Major Connector Between I-78 and I-80
Investment Overview
The Easton Self Storage Development is located in Easton, PA, which is located just outside of Allentown, PA in the Lehigh Valley. The property encompasses 26.54 +/- acres of Light Industrial zoned land with self storage as a permitted use. The property is located on Uhler Rd., which has just over 12,000 VHPD traveling in front of the property. The property is in a low-density self storage market with a population of just over 100,000 in a 5-mile radius and a saturation rate of 4.5 SF per capita. In the 5-mile competitive radius there are no new self storage projects in planning or permitting. One competitor has approvals to complete an expansion for an additional 36,000 GSF, but this expansion has been approved for close to a decade without any progress made to complete the expansion work. Due to the lack of competition, the 5-mile market has enjoyed steady rental rates with 10 x 10 climate controlled self storage renting at $22 per sf annually. The drive-up rates in the market have been consistently between $18 - $20 on 10 x 10 and 10 x 15 drive-up units. Population is expected to grow at just below 1% through 2030. The Easton Self Storage Development is not currently entitled, and a buyer would have to receive a full set of entitlements on the project prior to development.
Exclusively Listed By
Financing By
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