Grandstone Investment Sales is pleased to exclusively present Orchard Park Self Storage, an 84- unit, 13,400 NRSF Class C non-climate-controlled, drive-up self-storage facility located at 3371 N Benzing Rd in Orchard Park, New York. The property is offered at $1,400,000 ($104.48/NRSF) and is currently 92.2% physically occupied, providing stable in-place cash flow with no remaining lease-up risk. The facility benefits from a strong operating history within an undersupplied trade area, with only 5.5 square feet of self-storage per capita within a 5-mile radius, below the national benchmark. The property is also supported by strong surrounding demographics, including 53,383 residents within three miles and 147,328 residents within five miles, along with excellent visibility from South Expy, which experiences more than 50,000 vehicles per day.
The offering presents an opportunity to acquire a stabilized self-storage asset with identifiable operational and revenue growth opportunities. Current rents are approximately 20% below market, providing a clear path for rental rate increases, while additional upside exists through professional third-party management, dynamic pricing strategies, tenant insurance programs, and improved ancillary income capture. The property is located approximately two miles from the new $2 billion Buffalo Bills stadium, a significant regional development expected to increase investment and activity throughout the surrounding area. In-place NOI of $97,430 is projected to increase to $104,059 in Year 1 through the implementation of these value-add initiatives.
INVESTMENT
HIGHLIGHTS
- Strong Occupancy Profile
The facility is currently 92% physically occupied, demonstrating strong tenant demand and operational stability, with a history of stabilized occupancy. - Undersupplied Trade Area
The 5-mile trade area is significantly undersupplied with only 5.5 SF per capita, below the national self-storage benchmark. - Strong Demographics & Visibility
The property benefits from 53,383 residents within a 3-mile radius and 147,328 residents within a 5-mile radius, along with excellent visibility from South Expy, which experiences 50,000+ vehicles per day.
- Significant Upside Potential
The property offers an opportunity to increase revenue through professional third-party management, implementation of dynamic pricing strategies, and rental rate growth, as current rents are approximately 20% below market levels. - Proximity to Buffalo’s New $2 Billion Stadium Development
Located approximately 2 miles from the new Buffalo Bills stadium, providing exposure to a major regional investment and continued growth within the Orchard Park/Buffalo market.
Brian Brockman | Bang Realty-New York Inc | Bor@bangrealty.com | License: 10311208985