Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Planet Self Storage located in Boston, Massachusetts. The facility consists of 281 climate-controlled units totaling 20,234 net rentable square feet. This is a mismanaged facility with tremendous upside that is currently 39 percent physically occupied. This property also has the ability expand the site to five stories and add 75,000 net rentable square feet. There were extensive recent capital expenditure improvements including masonry restoration, new cameras/keypads, and solar panels. The property is fully secured with a keypad entry, an on-site management office, and 24-hour video surveillance. The location of this facility benefits from an extremely dense and growing surrounding population. The population within five miles of the facility is 712,509, which represents a 13.7 percent increase since 2000 and is expected to continue to grow over the next five years. They are located off a busy street 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 around 63,100 cars per day off Blue Hill Avenue and 4,000 cars per day off Woodrow Avenue. Planet Self Storage is being offered for $5.5 million or $271.82 per rentable square foot.