Class-A, Self-Storage in Detroit MSA Opportunity Zone – Redford, MI
12282 Woodbine Avenue Redford, MI 48239

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Market Bid
Redford, MI
Soon to be delivered class-A self-storage conversion
Densely populated 3-mile trade area with over 113,000 residents
Excellent visibility with an average daily traffic volume of 117,266 vehicles passing daily
Excellent tax incentive for investors due to opportunity zone classification
9 years property tax abatement under the OPRA Act
Projected stabilized NOI of over $1.5 MM, with levered returns in the mid-teens

Cushman & Wakefield’s Self Storage Advisory Group has been exclusively retained to offer for sale, a nearly completed, two-story self-storage conversion in Redford, MI.

This property presents a unique opportunity to acquire a brand new, class-A self-storage conversion located in Redford, MI. The property will deliver with 95,950 rentable square feet, including 863 climate-controlled units spread over two floors, and 138 brand new drive-up units with its own private parking lot. The facility Is scheduled to deliver in March of 2024. The site is designated as an opportunity zone, which offers excellent long term capital gains tax incentives to investors.

The site is located on Woodbine Avenue, just off Telegraph Road which sees an impressive average two-way daily traffic volume of 117,266 vehicles with full visibility of the property. The facility is less than a mile from Interstate 76, which offers quick 15-minute drive to downtown Detroit, a top 20 MSA.

Surrounding the property are several industrial facilities, including the massive 2.3 million square foot Detroit Diesel Corporation facility directly across the street, which builds commercial truck components and is one of six worldwide locations for Mercedes Benz R&D. Located in the facility’s densely populated three-mile trade area, the Lyndon Park housing development will feature 100 new single-family homes, supporting the current population of over 113,000 residents with a strong median household income of $52,806. 30% of the trade-area population is made up by renters, who traditionally have a higher use of self-storage than homeowners.

This investment offers a unique opportunity to acquire a brand-new storage conversion in a densely populated & supply constrained market, with a very low supply of only 5.86 rentable square feet per capita. The property also has the added tax benefit of being designated an opportunity zone which provides capital gains tax incentives and the long-term property exemptions under the OPRA Act for 9 years. Based on our projections, we expect buyers will have the opportunity to realize over $1.5 MM in NOI upon stabilizing occupancy, with levered returns in the mid-teens.

Redford, MI

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  • Confidentiality and Buyer Registration Agreement

    Cushman & Wakefield U.S., Inc. ("Broker") has been retained as the exclusive advisor and broker regarding the sale of the property known as the Redford, MI Self-Storage opportunity.

    To receive an Offering Memorandum ("Offering Memorandum") please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

    By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney's fees, collectively "Claims") arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

    By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Cushman & Wakefield, must be compensated by Buyer as Cushman & Wakefield is not cooperating on fees. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property's Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney's fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker's fees or finder's fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

    The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller's obligation thereunder have been satisfied or waived.

    The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

    No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.


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