Stabilized Self-Storage | Naugatuck, CT

Stabilized Self-Storage | Naugatuck, CT2022-06-13T09:52:15-04:00

Project Description

The Self-Storage Group of Cushman & Wakefield has been selected to exclusively market the sale of a property located in Naugatuck, CT.

UNDER AGREEMENT

NRSF – 26,025

Cushman & Wakefield has been selected to exclusively market the sale of Affordable & Safe Self Storage in Naugatuck, CT.

This offering presents prospective purchasers with the opportunity to acquire a fully stabilized asset with multiple upside opportunities. Affordable & Safe Self-Storage, as with all the other assets in the trade area, boasts excellent historical physical occupancy. As of the date of publication, the asset is 97.1% physically occupied.

Affordable & Safe Self Storage is located at 1257 New Haven Road, Naugatuck, CT within very close proximity to major retailers such as a Walmart Supercenter, Dunkin’, Planet Fitness, Tractor Supply, and McDonald’s. The population within the five mile trade area is 72,000+ with a median household income of $80,358. Within the trade area, there is currently only 3.06 NRSF/capita with no projects currently under construction, approved, or planned. The facility is comprised of one, two-story (on grade) building totaling 26,025 net rentable square feet of storage. The units offer a convenient mix of climate controlled interior and non-climate drive-up options. There is a permit-ready, fully approved additional building, which would add an additional 1,700 NRSF of drive-up  storage on the south of the parcel.

The successful purchaser will acquire a high-quality, purpose-built, stabilized asset in a market with remarkably low levels of competition. Rate adjustments, tenant insurance penetration, and ancillary revenue streams will provide superior returns in the immediate and longer-term. The confluence of minimal competition, with near 100% occupancy amongst the competitive set leads a prospective owner to have near unlimited pricing power for years to come.

INVESTMENT HIGHLIGHTS

  • High Occupancy Stabilized Asset with room to push rents
  • High Demand for Storage with Limited Competition
  • Purpose-built New Construction
  • Below Market Rents
  • No Future Supply Currently Planned, Approved or Under Construction
  • Opportunity to Implement Professional Management