All City Self-Storage

All City Self-Storage2021-03-09T15:54:09-05:00

Project Description

The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale of All City Self-Storage located in Philadelphia, PA.

Price $13,250,000
NRSF – 53,783

On behalf of ownership, Cushman & Wakefield is pleased to offer for sale, All City Self-Storage, Philadelphia. Located at 5500 Sansom St., Philadelphia, PA., the property consists of a main three-story above grade temperature controlled building with and one below grade cellar which was converted to self-storage use in 2005. The 1.1 acre parcel also accommodates a paved parking area that may be partially monetized by a new owner. Within the storage building, there are 742 units comprising 53,783 rentable square feet. Amenities include a fully contactless office environment, full perimeter fencing, and electronic video surveillance. With limited supply and competition within the trade area and high de facto barriers to entry*, the buyer will benefit from residential density and continued gentrification of the surrounding neighborhoods. Current population within one mile and three miles of the facility stands at 76,764 and 386,268 respectively, with supply at 1.8 and 1.9 square feet per person. There are no new facilities planned within the trade area. Adding to the rental income, are four cellular station leases for rooftop antennae. All four are long-term leases, providing a stable income for ownership. Recent capital investments by the lessees for 5G service upgrades demonstrate their commitment to the site. Significant value-add opportunity exists in revenue management and ancillary revenue streams. Operating without professional management, rental rates are well below market, physical occupancy stands at 89% and Economic Occupancy is a paltry 68%. There is currently no Tenant Insurance Income or late fee structure. There is even further opportunity for additional revenue growth should a purchaser decide to complete the remaining interior build-out and/or monetize the 2 separate gated lots on-site with rented parking revenue or drive-up, drop-in units. The successful buyer will acquire a facility performing well, with high occupancy and high opportunity to dramatically increase cash flow, in an undersupplied market. Superior cash on cash returns will be realized with average performance enhancements, providing further upside with greater efficiency. Reserve is $13,250,000. Offer deadline will be announced.


• Below Market Rental Rates
• Opportunity for Expansion
• Over 75,000 Residents within One Mile and 380,000 Residents within Three Miles
• Total Supply of 1.9 NRSF/Person within 3 Miles | No New Supply Planed, Approved, or Under Construction within the Trade Area | De Facto Barriers to Entry
• Stable Cell Tower Income
• Ideally Located within Philadelphia, PA which is the Nation’s Sixth Largest Metropolitan Area and Seventh Largest City

  • Sign CA to View Offering Memorandum

  • Confidentiality and Buyer Registration Agreement

    Cushman & Wakefield U.S., Inc. ("Broker") has been retained as the exclusive advisor and broker regarding the sale of the property known as All City Self-Storage.

    To receive an Offering Memorandum ("Offering Memorandum") please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

    By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney's fees, collectively "Claims") arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

    By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Cushman & Wakefield, must be compensated by Buyer as Cushman & Wakefield is not cooperating on fees. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property's Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney's fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker's fees or finder's fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

    The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller's obligation thereunder have been satisfied or waived.

    The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

    No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.