The subject property represents a class A, two-story storage facility comprised of 52,031 rentable square feet on approximately 2.37 acres of land. The facility offers 646 fully-climate-controlled units ranging from 100 square feet to 390 square feet. The site offers a wide variety of premium units to accommodate this desirable suburb located an hour outside of New York City. The facility has physical and economic occupancies of 96 and 50 percent, respectively. To ensure secure storage, the property utilizes a state-of-the-art security system.
The subject property is impeccably located in the thriving region of Nanuet, New York; a critical component of Rockland County, New York. This desirable suburb is a major residential alternative to the New York City Metro Area; there are over 108,000 individuals within three miles of the subject property. The facility offers direct frontage along Middletown Road, which sees traffic counts over of over 19,000 vehicles per day. The facility also offers quick access to Route 59 and the New York State Thruway, which witness traffic counts of over 31,000 and 137,000 vehicles per day, respectively. The site is situated within a major retail corridor and is adjacent to as super-regional mall with a plethora of national brands. The current mix of renters to owners is approximately 40 percent, which is indicative of the high demand for self-storage within the area. Furthermore, there is an average income exceeding $118,000 annually within three miles of the subject, far surpassing the national average.
The opportunity allows an investor the ability to acquire a stabilized storage asset with multiple upsides in a flourishing location. The competitive landscape offers only 2 NRSF per person, further solidifying the facility’s market presence. A buyer can maximize profits by continuing to grow economic occupancies in this underserved division of New York. There is additional upside through bolstering the current tenant insurance program and truck rental program. The facility’s well-established reputation in a thriving division of Nanuet comprises a turn-key investment positioned for consistent success and ample growth in the current and future market.
- Stabilized, Class A Self Storage Asset in a Flourishing Location with Limited Competition
- Over 108,000 Residents within Three Miles
- Supply of Less than 2 NRSF Per Capita
- Excellent Physical Occupancy of 96 Percent
- Three-Mile Average Household Income Exceeding $118,000 Annually, Far Surpassing the National Average
- Current Mix of Renters to Owners is Approximately 40 Percent, which is Indicative of the Region’s High Demand for Storage