Juststorage Self-Storage Opportunity – New Britain, CT
1055 West Main Street, New Britain, CT 06053
This opportunity presents an institutional‑quality self‑storage conversion that is well‑positioned within the Hartford MSA, supported by ongoing economic reinvestment, multifamily growth, and strong regional connectivity.Converted in 2016, the property totals approximately 95,455 rentable square feet across 1,200 units on a 7.6‑acre site. The facility includes 1,140 climate‑controlled units and 60 drive‑up units and features elevator access for second‑floor units, gated entry, and video surveillance, positioning it competitively within the local market.
The property is currently operating at approximately 81% physical occupancy with in‑place rents of approximately $17.28 per square foot, presenting a clear opportunity to drive revenue through continued lease‑up and pricing optimization. The unit mix is heavily weighted toward interior climate‑controlled product, while the drive‑up units are currently fully occupied, demonstrating strong demand across the asset.
Strategically located along West Main Street with direct access to Route 9 and Interstate 84, the property benefits from strong visibility and accessibility within a well‑trafficked commercial corridor. The surrounding trade area includes over 156,000 residents within a five‑mile radius and continues to experience meaningful residential growth driven by new multifamily development. The City of New Britain is undergoing ongoing revitalization supported by public and private investment, a diverse employment base, and enhanced transportation infrastructure including CTfastrak. Proximity to Central Connecticut State University and nearby employment hubs further supports sustained self‑storage demand from both residential and student populations.
This offering provides investors with the opportunity to acquire a high‑quality self‑storage asset with embedded upside through lease‑up and revenue growth, located within a supply‑constrained and evolving Hartford‑area submarket.