Listed by ParaSell Inc, Urow Real Estate
Unpriced
Tower Mill Self Storage
Details
APN K-27-0001
Property Type Self Storage
Sub Type Climate-Controlled, Drive-Up
Square Footage 85,833
Buildings 5
Acreage 4.320
Self Storage
Marketing description
HOW TO REGISTER:
- Go to www.urowrealestate.com
- Click Login on the Top Right of the Screen
- Press Register
- Enter Your Contact Information
- Once Your Account is Approved, You Will Receive an Email
START HERE IF YOU ALREADY HAVE AN EXISTING ACCOUNT:
- After Your Registration is Completed, Click this Link for the Deal: https://www.urowrealestate.com/listings/tower-mill-self-storage
- Click "Open Deal Room" below the pictures to execute a confidentiality agreement and access the deal room with the OM and financials.
Investment highlights
- Strong Unit Mix: 40,703 NRSF of self-storage across 377 climate-controlled units located within the main building and 131 non-climate-controlled drive-up units.
- Interior Conversion Opportunity: 45,130 NRSF of commercial space located on the lower level of the main building, currently leased and producing $307,500 annually with potential conversion to additional self-storage.
- Supplemental Solar Revenue: Existing rooftop solar net operating income is anticipated to be $83,000+ annually, with potential to increase revenue through the addition of a solar roof lease on the non climate buildings with the state of Massachusetts, expected to net an additional $18,000.
- Operational and Rental Rate Upside: The property is currently 70.6% occupied with climate-controlled units averaging ~47% below market rents.
- Strong Demographics: Located within the Providence–Warwick RI–MA MSA with approximately 131,900 residents within a 5-mile radius and 4.21 square feet of storage per capita.
Listing Contacts
Listed by ParaSell Inc, Urow Real Estate
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Zoning
CMD CommercialSpecial CommercialCommercial Mill
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