Budget Self Storage

Budget Self Storage2019-05-13T13:09:40-04:00

Project Description

The Mele Group of Cushman & Wakefield has been selected to exclusively market for sale Budget Self Storage in Waldorf, Maryland, a component of the D.C. Metro Area.

$1,670,000
NRSF – 21,327

12 Irongate Drive
Waldorf, Maryland 20602

Ideally situated in the populous Washington, D.C. Metropolitan Statistical Area, Budget Self Storage offers exceptional upside in an affluent community boasting a median household income of $98,000 within a five-mile radius. This is a prime opportunity to substantially raise revenue by increasing rental rates to match the market; currently, rental rates are approximately 25 percent below market. An investor can also enhance returns through the collection of fee income, the implementation of a tenant insurance program and the introduction of a self-service kiosk to reduce management salary costs. Furthermore, the facility currently lacks a digital presence; acquisition advantageously allows for a new owner to capitalize on offering an online payment system and search engine optimization (SEO) as the rate in which tenants discover self-storage locations through online searches has continued to skyrocket over time.

Budget Self Storage consists of 21,327 rentable square feet among 204 non-climate-controlled, drive-up storage units, resulting in a physical occupancy of 84.4 percent and an economic occupancy of 76.9 percent. To secure the premises, the facility is equipped with video surveillance, full-perimeter fencing, keypad access and gated entry. Within the past two years, capital improvements have been made to ensure the facility is well-maintained and an optimal choice for consumers.

Residing on 1.5 acres at 12 Irongate Drive, the site offers convenient access to several high-traffic thoroughfares in the surrounding region of Waldorf. The property is conveniently 1.4 miles from U.S. Highway 301/Crain Highway,  which sees an estimated traffic count of over 61,400 vehicles daily and serves as a major connector within the region. Leonardtown Road and St. Charles Parkway are also in close proximity, with estimates exceeding 29,000 and 19,000 vehicles daily, respectively. Centered on Washington, D.C., Waldorf is a suburb of this metro area that is notably one of the most educated and affluent metro areas within the nation.

Investment Highlights:

  • Exceptional Upside in an Affluent Community Boasting a Median Household Income of $98,000 Within a Five-Mile Radius
  • Opportunity to Substantially Increase Revenue Through Raising Rates to Match the Market; Currently, Rental Rates are Approximately 25 Percent Below the Competitor Average
  • Ability to Create Cash Flow Through the Implementation of a Tenant Insurance Program and the Introduction of a Self-Service Kiosk
  • Acquisition Allows an Investor to Capitalize on Enhancing the Facility’s Overall Market Presence Through Having a Digital Footprint; the Property Lacks a Website and its Subsequent Advantages, Including an Online Payment System and Search Engine Optimization (SEO)
  • Convenient Access to U.S. Highway 301/Crain Highway at a 1.4-Mile Distance and an Estimated Traffic Count of Over 61,400 Vehicles Daily
  • Surging Population Rate of 1.57 Percent Annually, or 6.28 Percent Over Five Years
  • Waldorf is a Robust Suburb that Serves as a Community with Majority of its Residents Working Within D.C. or the Metro Area’s Components, Most Notably Representing Personnel of Andrew’s Air Force Base
  • Located in Washington, D.C. Metro Area, Reputed for its Well-Educated and Affluent Demographics, and an Overall Population of 6.2 Million Individuals as Reported by the 2017 U.S. Census
  • Median Household Income of $113,568 Within a Three-Mile Radius
  • Annapolis is a Prosperous Component of the Baltimore-Columbia-Towson MSA and the Baltimore-Washington CSA
  • Sign CA to Download OM & Financials

  • 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 Budget Self Storage, located in Waldorf, MD.

    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.