investment highlights
- TROPHY ASSET // Extra Space Storage (Managed) 7th Street represents one of the highest performing self-storage assets in the Phoenix MSA. Strategically located to capture demand from a dense and affluent one‑mile trade area, the subject property is the only facility located in North Central Phoenix, which is one of the City’s premier neighborhoods/submarkets.
- HISTORICAL OCCUPANCY & GROWTH // The property averaged 92 percent physical occupancy through 2025, while revenue increased 13 percent over the same period.
- STRONG ACHIEVED RATES WITH UPSIDE // Seasoned tenants are achieving rent of $2.33 per square foot and represent 63 percent of the rent roll. New tenants average $1.64 per square foot, indicating an opportunity to push ECRIs on the existing rent roll to further improve returns.
- AFFLUENT NORTH CENTRAL-UPTOWN PHOENIX // Located six miles north of downtown, the North Central and Uptown Phoenix neighborhoods are desirable urban infill pockets featuring larger lots and higher end homes. The property is immediately surrounded by a mix of both rental, multifamily, and affluent neighborhoods.
- EXCELLENT DEMOGRAPHICS // The three-mile trade area has an estimated population of 161,199 with 73,965 households and an average household income of $104,468, while the one-mile trade area boasts a significantly higher average household income of $137,775. Including the development pipeline, there are approximately eight square feet per capita, further supporting the ability to push rents amid strong demand.
property summary
Extra Space Storage (Managed) is a newly constructed, institutional-quality self-storage facility located in Phoenix, comprising 984 units across 87,393 net rentable square feet. Built in 2021, the property is situated on 1.92 acres and features a single, two-story building with a modern design optimized for operational efficiency. The asset is fully built out, offering investors a seasoned, low-maintenance opportunity in one of the nation’s fastest-growing metropolitan areas.
The facility features a best-in-class amenity package, including 100 percent climate-controlled units, gated access with digital keypad entry, a drive-in loading area, multiple elevators, a dedicated on-site management office, 24/7 video surveillance, interior concrete drive aisle, and roll‑up doors. The climate‑controlled configuration positions the property to meet increasing tenant demand for premium storage options in a high-temperature climate, enhancing both occupancy stability and rental rate potential.
The property is the only self-storage facility that sits squarely within the North Central Corridor, one of the most established and affluent residential submarkets in the Phoenix metropolitan area, with high visibility from 7th Street, one of the major north-south thoroughfares through the area. The surrounding neighborhood includes the Uptown North Central dining district and is conveniently located near everyday retail anchors such as Safeway, Bashas’, and Heldt Lumber. The facility serves a dense three-mile population of 161,199 residents and 73,965 households, supported by an average household income of $104,468 and projected population growth of 1.4 percent over the next five years. With approximately 7.72 net rentable square feet per capita, the market demonstrates balanced supply fundamentals, further reinforcing the property’s long-term income stability and growth potential.
