Grandstone is excited to present Zeke’s Self Storage, a facility located in McKeesport, Pennsylvania. This property features 176 non-climate-controlled units totaling 25,600 net rentable square feet, along with 75 outside parking slots.
Currently, the facility operates at 88% occupancy, with an economic vacancy of 60%. This indicates substantial upside that could be unlocked through the implementation of professional management. With effective management in place, there is an opportunity to introduce tenant insurance and merchandise sales, enhancing revenue streams. Furthermore, within a 3-mile radius, there are only 3.38 NRSF per capita, highlighting the minimal competition in the area and reinforcing the potential for growth.
Moreover, there is a population of 101,150 residents within a 5-mile radius of the facility. The property also generates consistent ancillary income from a billboard on-site, making it a compelling investment opportunity for any buyer.
INVESTMENT
HIGHLIGHTS
UPSIDE THROUGH MANAGEMENT:
This facility presents significant upside, with an economic vacancy of 60%. Additionally, there are no merchandise sales or tenant insurance being collected, providing further opportunities for revenue growth through effective management.
LACK OF COMPETITION:
The nearby facilities are of lower quality, resulting in a competitive advantage for this property. Within a 3-mile radius, there is only 3.38 NRSF per capita, and just 4.46 NRSF per capita within a
5-mile radius, highlighting the minimal competition in the area.
FRONTAGE / LOCATION:
Located on Long Run Rd, which sees over 9,100 vehicles daily, this facility is ideally positioned just off Walnut Street, where traffic exceeds 12,000 vehicles per day. Its prime location features excellent visibility and superior frontage along the street, enhancing accessibility for customers.
STRONG ECONOMIC DRIVERS:
McKeesport, PA, boasts a diverse economy supported by key industries such as manufacturing, with companies like U.S. Steel and EQT Corporation driving growth. The city is undergoing
revitalization efforts, particularly through initiatives like the McKeesport Area School District’s investment in community development and education. Additionally, several mixed-use and multifamily projects are underway, including the McKeesport Waterfront Redevelopment. Its strategic location near major highways and proximity to Pittsburgh enhance its role as a hub for logistics and transportation.
Brian Brockman | Bang Realty- Pennsylvania Inc | bor@bangrealty.com | License: RM432816
