Chester Heights Self Storage
15 Stoney Bank Road Glen Mills, PA 19342
For more information, please call (813) 462-4220.
Chester Heights Self Storage is comprised of 79,705 square feet on approximately 5.4 acres of land. The facility has been well-maintained and is comprised of 530 climate-controlled units, 182 drive-up units and one manager’s apartment for a total of 713 units. The subject has physical and economic occupancies of 89.3 percent and 80.0 percent, respectively, which are indicative of the high demand for self-storage within the region. The property offers digital video surveillance, gated access, keypad entry, on-site management and fencing to ensure secure self-storage.
Located at 15 Stoney Bank Road, the subject property allows for easy access from the signalized intersection across from Wawa on U.S. Highway 1. The facility is 0.1 miles from U.S. Highway 1, which sustains a traffic count of over 31,000 vehicles per day. Conchester Highway is approximately 2.6 miles from the site, with a traffic count in excess of 24,000 vehicles daily. The facility will benefit from a median household income of over $110,000 within three miles, which is reflected in the $17 per square foot rental rates. The facility is adjacent to Darlington Woods Condominiums and serves as the primary storage option within the immediate vicinity.
Chester Heights Self Storage offers multiple upsides in an affluent region of Glen Mills, Pennsylvania. The property is located in an area with an extremely low overall storage supply of 3.49 square feet per capita. The facility has solid, forward-looking financials with cash-on-cash returns of 11.4 percent and 12.2 percent in years one and two, in addition to leveraged IRRs of 15.7 percent and 16.5 percent in years five and seven. An investor can increase revenue through the installation of a truck rental program and raising the rental rates to meet the comparable average. Furthermore, the site could increase efficiency through the implementation of professional management. The subject represents a prime opportunity to acquire a stabilized asset in a strong market with a high demand for self-storage.