Philadelphia, PA - Self-Storage Development Opportunity — Sale in Philadelphia, PA

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: Philadelphia, PA 19143

Photos

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Investment Figures

Cap rate
1.00%

Derived from the asking price and operating figures published for this listing. Informational only — not an appraisal, valuation or financial advice. Verify independently before relying on any figure.

Description

The Philadelphia, PA self-storage development is a proposed 129,823 +/- GSF Fully Climate Controlled Facility, which has been designed as Two 5 Story Buildings consisting of 95.75% +/- NRSF as elevator climate control storage or 75,863 +/- SF. The remaining 3,360 +/- NRSF will be ground level climate-controlled units. The facility will also include 36 parking spaces. Philadelphia, Pennsylvania is the largest city by population in the state containing a well-diversified workforce across Healthcare, Higher Education, Financial Services, Biomedical Research & Development as well as many other unionized fields. The proposed development will be located roughly one mile from Interstate 76, which has a traffic count of well over 100,000 vehicles per day. Interstate 76 Connects from Southern New Jersey West Through Pittsburgh better known as the Pennsylvania Turnpike. In addition, if heading south when entering Interstate 76 from the property, drivers are able to enter I-95 in less than five miles. In a 2-mile radius, there are approximately 79,323 households with home ownership of 41% and 59% renters. The 2-mile radius is supported by a population of 197,652 residents. In a 2-mile radius the average 5 x 10 climate-controlled unit rents is $26.89 while a 10 x 10 Climate Controlled is $20.19 per SF annually per Radius+. In addition to the strong annual rental rates, the 2-mile market is largely undersupplied at 3.6 SF/ Capita when factoring in all planned and active development. Investment Highlights: • Development Opportunity in a Top 50 MSA • 79,223 +/ Net Rentable Square Feet • 2.5 SF/Capita Current Supply in a 2-Mile Radius • Population of 202,554 in a 2-Mile • Proposed 940 Units & 36 Parking Spaces • $21.45 Annual 10 x 10 Rental Rates in a 2-MIle

Market Context

This commercial property in Philadelphia, PA is listed for sale. It is offered at an approximate 1.0% capitalization rate, a key benchmark for income-producing commercial property assets. Compare it against other commercial property listings for sale in Philadelphia, PA — view the full market.

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