investment highlights
- STRONG STORAGE FUNDAMENTALS // The property is currently operating at 90.33 percent occupancy bolstered by 3.57 CC square feet per capita and 4.67 NCC square feet per capita.
- GREAT DEMOS // Dense and affluent suburban trade area with a three-mile population of 83,274, over 31,000 households, and average incomes exceeding $151,000 per year.
- EXCELLENT LOCATION // The facility is directly across from Costco Wholesale and Gas Station on Andrea Road. It is also in a great retail corridor with Home Depot, Best Buy, Dick’s Sporting Goods, and other major retailers all within 1.7 miles. It is well positioned off Nicolls Road and Route 27 “Sunrise Highway” providing an average of over 140K vehicles per day.
- NO ONCOMING COMPETITION // There are no self- storage properties in the construction pipeline within 4.5 miles of the facility, giving the next investor an opportunity to capitalize on the high occupancy and push revenue through ECRI’s while also increasing entry level rates.
- HOUSING DEVELOPMENT ACTIVITY // The facility is near major housing developments such as Spruce Pond Luxury Apartments (1.1 miles), Fairway Manor (2.8 miles), and Hillcrest Village Luxury Apartments (2.9 miles). There are also five housing projects in the construction pipeline that will add an additional 1,048 units to the trade area.
property summary
Public Storage, is an 876-unit, 90,400 net rentable square foot self- storage facility located in Holbrook, NY. The property sits on approximately 4.23 acres of land and was initially constructed in 2021. It contains one two-story climate-controlled self-storage building totaling 761 units, three drive-up non-climate buildings with 110 drive-up units, and five outdoor parking spaces.
Public Storage has many amenities including electronic gated entry with a digital keypad, large institutional style leasing office with retail and security monitor display, 24/7 video surveillance throughout the facility, concrete driveways, and metal roll-up doors throughout.
The facility is centrally located in Holbrook, NY with excellent access off Nicolls Road from Sunrise Highway and over 140,000 passing vehicles per day. There are major drivers in the immediate area such as Costco Wholesale and Gas Station, Savers, along with several office buildings in the immediate vicinity. Holbrook is an upper-class town on Eastern Long Island with strong storage fundamentals and average household incomes exceeding $151,000 a year.
