Northeast Self Storage - alternatives for sale
The Portfolio offers three new, institutional-quality, self storage assets located in two of the top-10 MSA’s in the country, New York City and Boston
• FOURTH GENERATION, STATE-OF-THE-ART FACILITY – Purpose-built, institutional-quality self storage facility designed with modern features and amenities. The facility opened for business on March 27, 2018.
• IRREPLACEABLE REAL ESTATE - The property has approximately 250 feet of frontage along the north side of Eastern Avenue (Highway 60), an arterial street with a traffic volume of approximately 20,000 cars per day.
• EXCELLENT INCOME TRENDS – Average rental rate at the facility exceeds$21 psf.
• DENSE SUBMARKET WITH ABOVE AVERAGE INCOME – There are over 48,000 residents with an average annual household income of over $78,000 within a one-mile radius of the property and over 254,000 residents with an average annual household income of over $89,000 within a three-mile radius of the property.
• MODERATE COMPETITION - There are 19 existing self storage facilities within the subject’s three-mile trade area resulting in approximately 4.0 square feet of storage space per person and no new competitors are under construction, planned or proposed.
• NEW MULTIFAMILY DEVELOPMENT – There are over 3,300 new multifamily housing units which are currently under construction, planned or proposed within three-miles of the property.
• DRIVE-THRU LOADING – The building’s design includes drive-thru loading and climate controlled, drive-up units on both the interior and exterior of the building.