Grandstone Investment Sales is pleased to exclusively present a development site on Penn
Avenue, Sinking Spring, PA 19608 (Berks County Parcel 51437611667270), a land development opportunity for a Class A climate-controlled self-storage facility. The planned project comprises 524 units totaling 61,950 NRSF across approximately 4.28 acres, offering investors a ground-up development opportunity to deliver a modern storage asset in an established suburban market.
PROPOSED PROGRAM | $2,000,000 Price · 524 Units · 61,950 NRSF · 4.28 Acres · 100%
Climate Controlled · $32.28 / SF
The investment offers a compelling return profile with projected growth throughout the
development and lease-up period. Underwriting anticipates NOI growth from $131,736 to $749,691 by Year 5, supported by lease-up execution, rental rate optimization, and operational efficiencies. Additionally, the Property benefits from a strong location within Berks County, favorable demographics, and limited competition, creating a unique opportunity to capitalize on long-term demand for climate-controlled storage.
INVESTMENT
HIGHLIGHTS
- GROUND-UP DEVELOPMENT UPSIDE
Upon completion, the facility offers substantial revenue growth as it leases up from an unoccupied base, with rental rate optimization and increased tenant penetration driving the path to stabilization. - MODERN CLIMATE-CONTROLLED FACILITY
The planned development will deliver a 61,950 NRSF climate-controlled storage facility with 524 units, offering a premium product type designed to meet growing consumer demand for secure and convenient storage solutions. - FUTURE OPERATING POTENTIAL
The development offers significant upside potential through completion and stabilization, with NOI projected to reach $749,691 by Year 5.
- STRONG DEMOGRAPHIC FUNDAMENTALS
The surrounding market benefits from a growing residential base, with approximately 94,800 residents within a 5-mile radius and average household incomes exceeding $110,000, supporting continued demand for self-storage. - FAVORABLE BERKS COUNTY LOCATION
Located in Sinking Spring, the Property benefits from proximity to Reading, Wyomissing, major employment centers, and key transportation corridors including Route 222, creating a wellpositioned asset within an established suburban market.
Brian Brockman | Pennsylvania Inc | Bor@bangrealty.com | License: RM432816