4-Property Value-Add Self-Storage Portfolio Opportunity – New York
This institutional-quality portfolio totals 230,885 rentable square feet across 2,112 units, with 229,405 NRSF of self-storage within 2,070 units, 1,480 NRSF of retail space in 1 unit, and 41 outdoor parking spaces which are an additional 8,100 RSF that are excluded from total NRSF. This opportunity offers immediate scale in strategically positioned, supply-constrained markets where strong demographics support additional value-add opportunities.
The properties are located in Hastings-on-Hudson, Liberty, Middletown, and New Hampton, NY — each benefiting from strong local demographics, limited new supply, and zoning regulations that restrict new competition, supporting long-term asset performance. The portfolio is anchored by the top-performing facility in Hastings-on-Hudson, New York, an affluent location within the New York City MSA—the largest metropolitan area in the U.S. by both population and economic output.
The assets were constructed between 1999 and 2007 and have maintained strong physical occupancy levels while consistently increasing net-effective rental rates. Strong in-place rents and low occupancy volatility reflect the submarkets’ pricing power and continued resilience to rate increases.
As of April 2025, the portfolio’s weighted effective rents were over $27.38 per occupied square foot. Notably, Hastings-on-Hudson commands the highest net effective rent at $45.20 per square foot—among the highest in the country—reflecting the area’s exceptional affluence, dense population, and significant barriers to new development. Middletown follows at $25.58 PSF, with Liberty and New Hampton at $24.02 PSF and $23.30 PSF, respectively.
The portfolio generated TTM effective gross rental income of approximately $5.58 million, supported by strong physical occupancy and in-place rents. This income is well-positioned for meaningful growth in the immediate future through the continued use of ECRIs and reducing the remaining loss to vacancy. Over the next 24–36 months, the execution of approved expansion plans will drive revenue growth and offer increased operating efficiencies. Liberty has entitlements in place for 25 additional mass storage units, while New Hampton is permit-ready for an 11,400 RSF self-storage addition and 14,000 SF of parking, which represents an additional 127 total units. Both expansions represent low-barrier, high-impact opportunities to drive revenue and enhance long-term asset value.
This offering presents a unique opportunity to acquire a rare value-add portfolio in the nation’s top MSA. With trailing total revenue that exceeds $5.98 million and multiple value-add options to consider, the portfolio is positioned to generate substantial returns in both the near and long term.