CubeSmart (Managed) – New Washoe, Nevada (Reno MSA)

Property Location

205 Highway 395 North
New Washoe, NV 89704

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investment highlights

  • STRONG HISTORIC OPERATIONS // Seasoned facility that historically maintains high occupancy with strong Y-O-Y revenue growth. Achieved rent per square foot is up 22 percent from March 2021 to March 2022.
  • EXPANSION POTENTIAL // Opportunity to take advantage of preliminary plans to add 8,600 NRSF of storage, generating a potential of $130K in additional revenue.
  • MARKET GROWTH // Average home price in the trade area is up 36.5 percent in 2021. The adjacent neighborhood boasts an average of $700k-$1.1 million; up from $500K-$720K just a few years ago. Average HH incomes average $164K in the five mile trade area.
  • EXCELLENT LOCATION // Situated across the street from the affluent neighborhood of Old Washoe estates, a 20 minute drive from growing Reno NV, and a 27 minute drive to Mt Rose Lake Tahoe, this facility’s prime location offers storage options to travelers, residents, and businesses alike. The subject property is one of two facilities in the immediate 10-mile radius.
  • DESIRABLE LAYOUT AND DESIGN // Sprawling ten acre site consists of all single-story drive up metal construction with a mix of surface and canopy parking.

Broker Information

Jordan Farrer

Senior Investment Associate

Phone: 801.736.2643
Email: jfarrer@marcusmillichap.com
License: NV S.0192979

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