Storage Point Portfolio
For saleUnder contract609 Market Street, Zelienople, PA 16063
$7,429,000469 units64,596 SF
Self Storage$15,840/unit$115/SF1985
Property type
Self Storage
Unit / Space count
469
Price
$7,429,000
Rentable area
64,596 SF
Year built
1985
Occupancy
92.25%
Lot size
7.48 Acres
Number of buildings
11
Sold/status
Under Contract
Price per SF
$115.01
Property description
In Association with Scott Reid & ParaSell Inc. | A Licensed Pennsylvania Broker: #RB069068 Inquiries by residents and properties owners of the State are to be made to Scott Reid. SCOTT REID Broker - ParaSell Inc. broker@parasellinc.com 949.942.6578 PA - #RM424379
Property highlights
- Stabilized and Cash-Flowing Self Storage Portfolio Comprised of 469 Non-Climate Units Totaling 64,596 NRSF and 47 Outdoor Parking Rentals Spread Across Two Locations
- Facilities are Located Less Than Fifteen Miles Apart in the Pittsburgh MSA, Allowing for Management Efficiencies
- Opportunity to Expand at the Portersville Location Through Construction of New Storage Buildings In Place of Existing Outdoor Parking
- Billboard at Portersville Location Has One Side Leased for $250/month. Other Side Could be Leased Out Instead of Advertising the Facility. Excellent Visibility.
- Limited Competition in the Immediate Trade Area Evidenced by a Market Saturation Rate of 6.8 SF/Capita Within Five Miles of the Larger Zelienople Location
- In 2022, All Buildings at the Portersville Location and One of the Larger Buildings at the Zelienople Location Received a Metal Roof Restoration System With a 20-Year Warranty
- Other Recently Completed Cap/Ex Improvements Include Site-Wide LED Lighting, Exterior Building Painting, Upgraded Security Camera System, Landscaping Upgrades, Site/Concrete Repairs, Gate/Fencing Repairs, and Roll-Up Door Repairs
- Facilities Are Excellent Candidates for Remote Management With Automatic Gates, Keypad Entry, and Management Software Already in Place
- Very Strong Average Household Income of $126,304 Within Five Miles of the Larger Zelienople Location
- Both Facilities Are Located in Butler County, Which is Just North of Pittsburgh and Home to 200,169 Residents
- The Pittsburgh MSA is the Second Largest in the State of Pennsylvania and is Home to 2,421,992 Residents