The New York City Self Storage Opportunity is comprised of a Class A storage asset in Queens, New York; which is one of New York City’s most densely-populated boroughs. The facility offers 87 lower climate-controlled units, 682 upper climate-controlled units, 484 lockers and 64 portable units for a total of 1,317 units. The subject property consists of large loading bays for consumer convenience, in addition to elevator access. The site utilizes premium video surveillance, keypad entry, fencing, and optimal lighting to ensure secure self-storage.
Impeccably situated in a dominating market of New York City, the facility offers prime visibility along Merrick Boulevard, witnessing over 24,000 vehicles daily. An investor will benefit from the site’s location in the most-populated MSA in the United States. A strong renter-occupied population dominates the subject’s immediate surroundings; historically, renters utilize self-storage at a higher rate compared to home owners. There is a low supply of storage in square feet per capita, demonstrating the strong need for quality storage within the nation’s most coveted market. The property is approximately four miles from John F. Kennedy International Airport, one of the busiest airports in the world. Furthermore, the subject property offers easy access to several of the region’s heavily-frequented thoroughfares, including the Belt Parkway and the Van Wyck Expressway, as well as superb foot traffic.
The New York City Self Storage Opportunity represents a once-in-a-lifetime opportunity to acquire a state-of-the-art trophy asset in the most desirable metro area in the United States with a high barrier to entry as demonstrated by the boroughs’ arduous zoning for self-storage, paired with land scarcity. In addition to the facility’s unparalleled location, an investor can capitalize on the subject’s respective tax abatement and drive rental rates to meet the comparable average upon stabilization; the opportunity is experiencing a rapid lease-up phase in this under-supplied market. This class A asset in this dense borough of Queens offers all of the ideal components for a strong self-storage investment in the unofficial capital of world.
- State-of-the-Art, Class A Storage Asset in a High Barrier-to-Entry Market
- Capitalize by Raising Rental Rates to the Market Average Upon Stabilization
- Newly-Constructed Portable Drive-Up Units Provide a Rare Option for Storage in the Area
- Directly Situated in the Heart of Queens, Boasting Easy Highway Access, Subway Access and High-Volume Foot Traffic
- Low Supply with a Massive Population of Over 440,000 Individuals Within Three Miles of the Property
- High Ratio of Renter-Occupied Housing Surrounding the Site
- Subject Advantageously Offers a Tax Abatement
- Limited Competition and a Growing Demand for Storage in the U.S.’ Most Populous Market with a Scarcity of Land