All Purpose Storage - Hollis
For saleUnder contract258 Proctor Hill Rd, Hollis, NH 03049
Unit / Space count
351
Price
$6,500,000
Occupancy
82.22%
Lot size
9.33 acres
Number of buildings
8
Uncovered spaces
54
Apartment
1
Property description
All Purpose Storage is a newer, cash-flowing self-storage facility in Hollis, New Hampshire, offered at $6,500,000. Built in 2019 on over nine acres, the property has eight single-story metal buildings of non-climate units, a block of paved outdoor parking rentals, and a one-bedroom apartment that adds a second income stream. Because it is so new, it is in great condition with no immediate deferred maintenance. Gated keypad entry, cameras, an on-site leasing office, and Cubby management software are already in place, making it a strong candidate for remote or semi-remote management. The upside is in lease-up and rate growth. The facility is still finishing its final stages of lease-up, and achieved rents on most unit sizes sit above current street rates, so a new owner can keep rolling out existing customer rent increases while filling the remaining vacancy. Hollis is one of the most affluent trade areas in the region, with very high household incomes, moderate storage saturation, and no active storage development in the pipeline. The property sits just north of the Massachusetts border, less than ten miles west of Nashua, and benefits from New Hampshire’s lack of a state income or sales tax, which continues to draw households from Greater Boston. The Manchester-Nashua MSA adds a deep employment base in defense, healthcare, technology, and financial services.
Property highlights
- Cash-Flowing Self Storage Facility Comprised of 351 Non-Climate Units Totaling 55,200 NRSF, 54 Paved Outdoor Parking Rentals, and One 1,100 SF Apartment
- Opportunity to Increase Revenue Through Completing the Final Stages of Lease Up and the Implementation of Existing Customer Rent Increases
- Recently Constructed in 2019, the Facility is in Great Condition and Requires No Immediate Deferred Maintenance
- Facility is an Excellent Candidate for Remote or Semi-Remote Management With Automatic Gate, Keypad Entry, and Management Software Already in Place
- Average Household Income of $199,439 Within Three Miles of the Property
- Saturation Rate of 9.4 SF/Capita Within Five Miles of the Property and No Active Self Storage Developments in the Pipeline
- Hollis is Located in Southern New Hampshire Just North of the Massachusetts Border, Less Than 10 Miles West of Nashua
- The Manchester-Nashua MSA is the Second Largest in the State of New Hampshire and is Home to 433,415 Residents
In Association with ParaSell Inc. | P: 949.942.6578 | A Licensed New Hampshire Broker #075195 Scott Reid Broker - ParaSell, Inc. (949) 942-6578 broker@parasellinc.com Lic. #NH - 069493