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Self-Storage Facility

New Horizon Self-Storage

113 E Chestnut St, Souderton, PA 18964

Listing Price: $3,100,000

Cap Rate
5.43%
Number of Units
199
Occupancy
92.5%
Gross SF
18,133
Rentable SF
18,133
Price/Rentable SF
$170.96
Year Built
1910

Investment Overview

Marcus & Millichap is pleased to offer for sale New Horizon Self-Storage located in Souderton, PA. Souderton is a suburb in the Philadelphia MSA with a population of approximately 108,000, representing a 12.6% increase since 2000. This grist mill, which was constructed in 1910, was converted in 2003 to a storage facility consisting of a unique unit mix of 199 fully climate controlled units. The facility sits on .96 acres with undeveloped land which can be converted to revenue producing acreage down the line. The property currently has plans approved to add 2 apartments, resulting in over $50,000 of revenue each year. The facility is currently 100% physically occupied and has below market rents by an average of $.88/SF.

Investment Highlights

  • 18,133 Net Rentable Square Feet
  • Fully Climate Controlled Facility Consisting Of 199 Units
  • Upside Through Raising Below Market Rents And Pushing Tenant Insurance Program
  • Portable Units Recently Added In Back Of Property Showing Usage For Land
  • On-Site Management Office
  • 100% Physically Occupied
  • Roof and Sidewalk Renovations Completed in 2019

Exclusively Listed By

Financing By

Self-Storage Facility

New Horizon Self-Storage

Listing Price: $3,100,000

Cap Rate
5.43%
Number of Units
199
Occupancy
92.5%
Gross SF
18,133
Rentable SF
18,133
Price/Rentable SF
$170.96
Year Built
1910

Investment Highlights

  • 18,133 Net Rentable Square Feet
  • Fully Climate Controlled Facility Consisting Of 199 Units
  • Upside Through Raising Below Market Rents And Pushing Tenant Insurance Program
  • Portable Units Recently Added In Back Of Property Showing Usage For Land
  • On-Site Management Office
  • 100% Physically Occupied
  • Roof and Sidewalk Renovations Completed in 2019

Investment Overview

Marcus & Millichap is pleased to offer for sale New Horizon Self-Storage located in Souderton, PA. Souderton is a suburb in the Philadelphia MSA with a population of approximately 108,000, representing a 12.6% increase since 2000. This grist mill, which was constructed in 1910, was converted in 2003 to a storage facility consisting of a unique unit mix of 199 fully climate controlled units. The facility sits on .96 acres with undeveloped land which can be converted to revenue producing acreage down the line. The property currently has plans approved to add 2 apartments, resulting in over $50,000 of revenue each year. The facility is currently 100% physically occupied and has below market rents by an average of $.88/SF.

Exclusively Listed By

Financing By

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