Property Description

Top of the line quality construction abounds in this storage facility, constructed recently in 2021. The property consists of 42 mini storage units, 48 large RV storage units, 26 parking spaces and a rented house on 10.39 Acres of Land. The 48 large units consist of a range of sizes between 10x30 and 16x51 and ceiling height ranging from 12- 16. Many feature a 20 or 50 amp electric service, with 11 of these units also providing AC/Heat fed by a Geothermal System that services the whole property. Utility fee is then added to units with in proportion to potential use. These units are consistently rented at 100% capacity. The 42 mini storage units are climate controlled with the efficient geothermal system, with sizes ranging from 6 x 10 to 14 x 24, with interior access on convenient one level. There is 26 stoned parking spaces at 10x40 size, with easy access and large entry drive, perfect for large vehicles and heavy storage. There is also a leased house located on the property, that was renovated in 2021 when the storage was built. Excellent construction in this facility features metal roofs and metal siding, large deep concrete pads and driveways around buildings. A Geothermal open loop system services the property for heating and cooling. The property is zoned Highway Commercial in Germany Township, Adams County and is located just over the PA/MD line in Pennsylvania, which provides easy access for storage users throughout the greater region. Maxi storage units that this facility provides are in high demand and have very limited supply. Replacement costs for this type of facility would well exceed the purchase price. Potential upside can be obtained by adding additional maxi storage in parking spaces, and increasing rents & mini storage occupancy. Offered at an attractive 6.3% in place cap rate, or a proforma 7.4% with expected rent increases, this property makes an attractive long term growth asset.