Grandstone Investment Sales is delighted to present a premier opportunity: Menands Self Storage, strategically located just minutes from the bustling heart of downtown Albany. This exceptional facility spans 65,398 Net Rentable Square Feet (NRSF), comprising 706 climate-controlled (CC) units, 38 non-climate-controlled units, and 28 uncovered parking spaces, offering a comprehensive range of storage solutions.
Positioned within an affluent and densely populated area, Menands Self Storage benefits from robust demographic advantages. Within a 3-mile radius, the facility serves a thriving community of 85,000 residents, which expands to 210,000 within a 5-mile radius. The area boasts an average household income exceeding $80,000, underscoring the strong economic foundation of the facility’s customer base.
Further enhancing its appeal, the facility operates in a market with low self-storage saturation—less than 7 NRSF per capita across both the 3-mile and 5-mile radius. This significant underutilization points to a lucrative opportunity for expansion and increased market penetration.
The region surrounding Menands Self Storage is experiencing a remarkable growth trajectory, evidenced by an extensive pipeline of multifamily developments. With over 8,000 housing units in development within a 5-mile radius, this surge underscores a burgeoning demand for storage solutions, driven by an influx of residents and heightened activity in the housing sector.
INVESTMENT
HIGHLIGHTS
• Strategic Location: Menands Self Storage is conveniently located minutes from downtown Albany, offering easy access and visibility.
• Extensive Facility: Spanning 65,398 net rentable square feet (NRSF), the facility boasts 744 non-climate-controlled units, alongside 28 uncovered parking spaces.
• Strong Local Demographics: Positioned within a vibrant community, the facility is surrounded by a population of 85,000 within a 3-mile radius and 210,000 with in a 5-mile radius, with an average household income exceeding $80,000.
• Low Market Saturation: The area demonstrates low market saturation, with under 7 NRSF per capita for both 3 and 5-mile radii, highlighting substantial growth potential.
• Exceptional Growth Opportunities: The region is experiencing significant development, highlighted by over 8,000 multifamily units in development with in a 5-mile radius, indicating a rising demand for storage solutions.
• Seller Financing Available & Loan Assumable
Broker of record: BRIAN BROCKMAN | Bang Realty-New York Inc | bor@bangrealty.com | License: 10311208985
