Public Storage (Managed)- Racine
Retail | 78,527 SqFt
Marketing description
Public Storage (Managed) - Racine, offers a strategic opportunity to acquire a well-positioned self-storage facility in a robust and growing market. Located at 4801 Washington Avenue, Racine, WI, the property encompasses 78,527 net rentable square feet (NRSF) across 820 selfstorage units. Built in 2022, the facility is currently operating at 94.8% physical area occupancy and 93.8% physical unit occupancy, with significant potential for growth.
The surrounding 5-mile radius includes over 124,556 residents, indicating strong demand coupled with limited competition. Racine's economic momentum, highlighted by a median household income of $67,536 in 2025, further supports long-term demand for self-storage solutions. The facility benefits from its position near major traffic corridors, including Washington Avenue (33,500 vehicles per day) and Green Bay Road (33,800 vehicles per day), ensuring high visibility and access for potential customers. The average household income within a 3-mile radius is $81,288, reinforcing demand from the area's economically stable households who are highly likely to seek quality, secure storage options.
The market conditions in Racine, characterized by billions of dollars in active economic development and an undersupplied trade area with zero planned developments within 4.5 miles, create an attractive environment for long-term investment. With limited new storage development in the pipeline, this facility stands out as a highly attractive acquisition. The opportunity to develop the adjacent 128,000 GSF vacant parcel presents a clear path to increasing total rentable square footage.
Investment highlights
- Unique Opportunity to Acquire a 78,527 NRSF Stabilized Self Storage Facility in the Established and Under-supplied Racine, Wisconsin Market
- Yield-Producing Facility With Current Physical Occupancy at 95% and Economic Occupancy at 96%
- Facility is 95 Percent Occupied with Ability to Grow Effective Rates Upwards of 5% Percent to Achieve Pro Forma NOI
- Under Supplied Major Metro: 5.37 SF at 1 Mile, 7.23 SF at 3 Miles, 8.87 SF at 5 Miles
- The Property Benefits From a Stable and Suburban Customer Base Drawn From Racine and the Greater Milwaukee Corridor, Supporting Consistent Occupancy and Resilient
- Demand Through Varying Economic Cycles.
- Immediate Use of Adjacent Vacant 128k GSF Parcel for Additional Uncovered Parking or Potential Storage Expansion
- No Planned Developments Within 4.5 Miles, Ensuring a Consistent and Reliable Customer Base
- NRSF 78,527
- Total Number of Units 820
- Physical Occupancy % (Area) 94.8%
- Physical Occupancy % (Units) 93.8%
- Economic Occupancy 96.1%
- Current Ask Rate $1.29
- Stable Ask Rate $1.58
- Rate Growth 22.2%
- Non Climate Units 1
- Climate Controlled Units 819
- Unit Sizes 15 SF to 495 SF
- # of Acres 9.00
- # of Buildings 1
- Year Built 2022
- Zoning Community Shopping
- Parcel Number(s) 276000022879003, 276000022879002
- # of Stories 2
- # of Elevators / Stairwells / etc. to access upper
- levels 1
- Foundation Concrete
- Framing Metal
- Exterior Metal, Block
- Roof Type Metal Deck
- Fencing Type Metal
- # of Entries 2
- Type of Gate Vertical
- Management Software Public Storage
- Security System- # of cameras, keypads, alarms, DVD recording system, etc.) 16 total cameras located at entrances, exits, and
- strategically around the storage areas. PTI security panels and entrance keypads at the entrance garage door and exterior entrance doors (other than office). Not located at egress door locations
- Flood Zone X
- Signage 1, non-electric Located in the office entrance
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