extra space storage

Grandstone Investment Sales is pleased to exclusively present for sale Extra Space Storage, a newly converted, Class-A self-storage facility located in Depew, NY—a dense and high-income suburb of Buffalo. The property features 43,733 NRSF across 394 fully climate-controlled units and is currently 91% physically occupied, reflecting strong lease-up momentum. In addition to storage income, the asset includes a retail lease to Goodwill, a national credit tenant offering stable, long-term cash flow. The facility benefits from exceptional demographics, with over 139,000 residents and an average household income of $93,000 within a five-mile radius. In-place rents average $1.45/SF, while market comparables support rates closer to $1.78/SF, presenting a clear opportunity for rental growth. Located along French Road with over 12,000 vehicles per day and surrounded by major retail and new multifamily development, the property offers high visibility and potential for future expansion. Branded and managed by Extra Space Storage, one of the industry’s most trusted operators, the asset is strategically positioned in an undersupplied corridor with strong absorption and favorable economic drivers.

The facility is supported by strong demographics, with a population of over 57,000 within a 3-mile radius and over 138,000 within a 5-mile radius. The median and average household incomes exceed $70,000 within a 1 and 3-mile radius, respectively. Additionally, the immediate trade area is experiencing significant growth, with over 1,600 multifamily residential units currently under construction. Lastly, there is tremendous opportunity for expansion.