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Self-Storage Facility

Extra Space Storage (Managed)

602 N Howard St, Baltimore, MD 21201

Listing Price: $16,575,000

Cap Rate
2.42%
Number of Units
745
Occupancy
57.9%
Gross SF
59,236
Rentable SF
59,236
Price/Rentable SF
$279.81
Year Built
1922

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Extra Space Storage (Managed) located in Baltimore, Maryland. The class A, four-story facility currently features 623 climate-controlled units, 122 non-climate-controlled units, totaling 59,236 net rentable square feet. There are also four retail spaces totaling 3,681 square feet. The facility was converted to storage in 2017 and since opening has witnessed a very fast lease up period and has already been able to achieve a physical occupancy of 94 percent.

The location of this facility benefits from the dense population in downtown Baltimore. The population within five miles of the facility is 553,596 people. They are located just 1,000 feet from US Route 40 and are surrounded by lots of residential neighborhoods, as well as, restaurants, retail stores, and schools. This offers the facility great street frontage and high daily traffic counts of 11,400 cars per day on West Centre Street and 1,625 cars per day on North Howard Street.

Extra Space Storage (Managed) is being offered for $16,575,000 or $263.44 per rentable square foot.

Investment Highlights

  • Large Class A Maryland Self-Storage Facility
  • Located in Downtown Baltimore
  • High Rent Market
  • 59,236 Net Rentable Square Feet of Storage
  • 623 Climate Controlled Units | 122 Non-Climate Controlled Units

Exclusively Listed By

Financing By

Self-Storage Facility

Extra Space Storage (Managed)

Listing Price: $16,575,000

Cap Rate
2.42%
Number of Units
745
Occupancy
57.9%
Gross SF
59,236
Rentable SF
59,236
Price/Rentable SF
$279.81
Year Built
1922

Investment Highlights

  • Large Class A Maryland Self-Storage Facility
  • Located in Downtown Baltimore
  • High Rent Market
  • 59,236 Net Rentable Square Feet of Storage
  • 623 Climate Controlled Units | 122 Non-Climate Controlled Units

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Extra Space Storage (Managed) located in Baltimore, Maryland. The class A, four-story facility currently features 623 climate-controlled units, 122 non-climate-controlled units, totaling 59,236 net rentable square feet. There are also four retail spaces totaling 3,681 square feet. The facility was converted to storage in 2017 and since opening has witnessed a very fast lease up period and has already been able to achieve a physical occupancy of 94 percent.

The location of this facility benefits from the dense population in downtown Baltimore. The population within five miles of the facility is 553,596 people. They are located just 1,000 feet from US Route 40 and are surrounded by lots of residential neighborhoods, as well as, restaurants, retail stores, and schools. This offers the facility great street frontage and high daily traffic counts of 11,400 cars per day on West Centre Street and 1,625 cars per day on North Howard Street.

Extra Space Storage (Managed) is being offered for $16,575,000 or $263.44 per rentable square foot.

Exclusively Listed By

Financing By

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