All Purpose Storage - Bradford
For sale530 Waits River Road
Unit / Space count
238
Price
$4,500,000
Cap Rate
7.15%
Occupancy
89.92%
Stories
1
Lot size
2.84 acres
Number of buildings
6
Property description
All Purpose Storage is a highly stabilized, cash-flowing self-storage facility in Bradford, Vermont, offered at $4,500,000. The property is made up of six single-story, drive-up buildings of non-climate units, built in 2000 and secured with a keypad gate, perimeter fencing, and cameras. Cubby management software is already in place, and the facility’s stabilized profile and modest size make it well suited to remote management rather than full-time on-site staff. An adjacent 3.63-acre parcel is available for purchase separately, giving a new owner a potential path to future expansion. The upside comes from rate growth. Strong physical occupancy supports continued implementation of existing customer rent increases, and achieved rents still have room to move toward pro forma levels. The surrounding market is lightly supplied, with low storage saturation within five miles and limited nearby competition. Bradford sits along the I-91 corridor in eastern Vermont, with access to I-89 and the broader Upper Valley region. The area is not a high-growth market, but it benefits from a stable, diversified economy anchored by Dartmouth College, Dartmouth Hitchcock Medical Center, government, and advanced manufacturing, along with healthy household incomes and four-season recreation that support a steady resident base.
Property highlights
- Highly stabilized and cash-flowing self storage facility comprised of 238 non-climate units totaling 32,100 NRSF
- Adjacent 3.63-acre parcel available for purchase separately, providing the opportunity for potential future expansion
- Below average market saturation rate of 6.8 SF/capita within five miles of the facility
- Strong physical occupancy should allow continued implementation of existing customer rent increases
- Stabilized nature and small-to-medium size should allow remote management efficiencies rather than full-time employees
- Average household income of $93,741 within five miles
- Bradford is in eastern Vermont approximately 30 miles southeast of the state capital Montpelier
- The Lebanon-Claremont MSA is the second largest in Vermont, home to 87,314 residents
In Association with ParaSell, Inc. | A Licensed Vermont Broker: #083.0650387-MAIN Scott Reid Broker - ParaSell, Inc. (949) 942-6578 broker@parasellinc.com Lic #: VT - 81.0105695