The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for Downtown Self-Storage in Modesto, California.
The subject property represents a well-maintained storage asset comprised of 20,618 rentable square feet on approximately 0.32 acres of land. The facility
features 314 fully-climate-controlled options and one rental parking space for 315 total units. The site was built in 2017 and is impeccably located in the heart
of Downtown Modesto. The subject has current physical and economic occupancies of 98.4 percent and 62.62 percent, with ample room for growth. To ensure secure storage, the property utilizes a state-of-the-art security system and electronic gate code access, in addition to professional management and mailing/shipping services for consumer convenience.
The subject property is situated in the center of Downtown Modesto, California, with premium access to the area’s most frequented thoroughfares. The facility is accessible from 9th Street and L Street, which witness traffic counts of over 18,000 and 16,000 vehicles daily. Additionally, the site is approximately half a mile from Golden State Highway, a major roadway with a robust traffic count exceeding 133,000 vehicles daily. In addition to excellent vehicle traffic, the facility is encompassed by several national retailers and major resources within the immediate vicinity, including DoubleTree by Hilton, Wells Fargo, Bank of America Financial Center, U.S. Bank, Starbucks, McDonald’s, Modesto Junior College, and the internationally renowned E&J Gallo Winery, among several other popular destinations. Furthermore, there are over 135,000 individuals within three miles of the facility with a renter-occupied population at nearly 40 percent. Downtown Self Storage Modesto serves as the premier storage option within the immediate trade area.
The subject property represents an excellent opportunity to acquire a state-of-the art storage asset in a centralized location with multiple upsides. The facility will benefit from the swelling population and limited competition within the immediate trade area. Additionally, an investor can capitalize by continuing to grow the economic occupancy and bolstering the current tenant insurance program for further profits. Downtown Self Storage Modesto encompasses the ideal components for the ideal storage investment with premium construction and amenities, a centralized downtown location, and a dense population within three miles of the site.