Listed by Franklin Street Tampa
$7,429,000
Storage Point Portfolio
Details
APN 550-S4-A828-0000, 240-4F137-7AABA-0000
Property Type Self Storage
Sub Type Self Storage
Square Footage 64,596
Net Rentable (SqFt) 64,596
Units 469
Cap Rate 6.07%
NOI $451,085
Occupancy 92.25%
Tenancy Multi
Pro-Forma Cap Rate 8.30%
Pro-Forma NOI $616,358
Price per SqFt $115
Year Built 1985
Buildings 11
Stories 1
Acreage 7.480
Investment Type Stabilized
Self Storage | 6.07% CAP | 469 Units | 64,596 NRSF
Marketing description
Franklin Street is pleased to present the Storage Point Portfolio, a stabilized and cash-flowing self-storage portfolio comprised of 469 non-climate units totaling 64,596 NRSF and 47 outdoor parking rentals spread across two locations in the Pittsburgh MSA. The facilities are located less than fifteen miles apart in Butler County, allowing for management efficiencies. Both facilities are located in Butler County, which is just north of Pittsburgh and home to 200,169 residents. The Pittsburgh MSA is the second largest in the state of Pennsylvania and is home to 2,421,992 residents.
Investment highlights
- Stabilized and Cash-Flowing Self Storage Portfolio Comprised of 469 Non-Climate Units Totaling 64,596 NRSF and 47 Outdoor Parking Rentals Spread Across Two Locations
- Facilities are Located Less Than Fifteen Miles Apart in the Pittsburgh MSA, Allowing for Management Efficiencies
- Opportunity to Expand at the Portersville Location Through Construction of New Storage Buildings In Place of Existing Outdoor Parking
- Billboard at Portersville Location Has One Side Leased for $250/month. Other Side Could be Leased Out Instead of Advertising the Facility. Excellent Visibility.
- Limited Competition in the Immediate Trade Area Evidenced by a Market Saturation Rate of 6.8 SF/Capita Within Five Miles of the Larger Zelienople Location
- In 2022, All Buildings at the Portersville Location and One of the Larger Buildings at the Zelienople Location Received a Metal Roof Restoration System With a 20-Year Warranty
- Other Recently Completed Cap/Ex Improvements Include Site-Wide LED Lighting, Exterior Building Painting, Upgraded Security Camera System, Landscaping Upgrades, Site/Concrete Repairs, Gate/Fencing Repairs, and Roll-Up Door Repairs
- Facilities Are Excellent Candidates for Remote Management With Automatic Gates, Keypad Entry, and Management Software Already in Place
- Very Strong Average Household Income of $126,304 Within Five Miles of the Larger Zelienople Location
- Both Facilities Are Located in Butler County, Which is Just North of Pittsburgh and Home to 200,169 Residents
- The Pittsburgh MSA is the Second Largest in the State of Pennsylvania and is Home to 2,421,992 Residents
Listing Contacts
Listed by Franklin Street Tampa
Valuation Calculator
Login or Sign up to see Valuation Metrics
Sign up for Crexi to see valuation metrics for this property
Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$451,085.00
$37,590.42/mo
Valuation Metrics
0
DSCR
6.07%
Cap Rate
6.07%
ROI
Broker Selected Comps View More Comps
Property History
Similar Properties
Additional Information
Name
License
Title
Is there information that looks off?
