Value-Add, Canton, Class-A Self-Storage Opportunity – Maryland
1413 S Haven Street, Baltimore, MD 21224

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Price
Market Bid
NRSF
77,003
Baltimore, MD
Value-Add
77,003 rentable square foot, class-A facility
Includes permits for an additional 54 drop-in unit expansion
Ability to immediately install solar panels generating $20,000 in revenue annually, at no cost
3-mile trade area population of 157,800 with a median household income of $105,687
Influx of 1,782 multifamily planned within 1-mile of the facility
Facility is surrounded by Class-A retail centers which are fully occupied by corporate tenants including: Sprouts Farmers Market, Shake Shack, Chic Fil A, Starbucks, and more
This pin drop location is highly sought after by Gen Z and Millenials as evidenced by the adjacent 300k+ fully leased Class A retail and 1,000+ recently delivered Class A Apartments
Geographically diverse tenant base with tenants from 23 different states across the country
Seasoned rent roll with an average tenant length of stay well over 1.5 years

Cushman & Wakefield’s Self Storage Advisory Group has been retained to offer for sale, the Extra Space Storage Haven Street, MD Self-Storage Opportunity.

This investment provides the unique opportunity to acquire a recently built, class-A self-storage facility in the desirable Canton neighborhood of Baltimore, MD. The 77,003 rentable square foot facility includes 103 climate-controlled first-floor units and 720 climate-controlled elevator accessible units, totaling 823 units across 6 stories. The facility also features a covered loading bay, offering further convenience to tenants. Since its completion in 2019, the facility has achieved an excellent lease-up and is currently at a physical occupancy of 87%. New ownership will have the ability to install solar panels on the roof at no cost, generating an additional $20,000 of revenue annually upon completion. There are also currently plans in place for an additional 54 drop-in units to be added.

Located in the desirable Canton neighborhood, the facility benefits from easy access to Interstate 95 which is only a half-mile away. The facility’s densely populated 3-mile trade area is home to 157,800 residents, with over 37% of those being renters. The strong renter base is set to expand with an influx of new multifamily development taking place. Within 1-mile of the facility, there are currently 1,782 units in various stages of planning, compounding the 1,317 units that have been built since the start of 2020.

This increase in residential development is set to meet the demand of the facility’s affluent 1-mile trade area, which holds an excellent median household income of $105,687. Adjacent to the facility is the Canton Crossing Shopping Center development, driving heavy foot traffic by the property and attracting new residents to the neighborhood. The retail hub’s first phase was completed in 2014, attracting major retailers including Target, Athleta, Ulta Beauty, J. Crew and numerous other stores and restaurants.

Take advantage of the unique opportunity to acquire this nearly stabilized facility in a rapidly growing neighborhood of Canton. Investors will have the opportunity to increase revenue through multiple avenues. The facility’s sticky tenant base provides support for successful ECRI implementation, with over 50% of tenants staying longer than 1.5 years. The ability to install solar panels at no cost will provide an additional $20,000 in annual revenue. The opportunity will also come with permits for a 4,775 rentable square foot expansion. Based on C&W’s projections, the levered returns are expected to be in the mid to high teens on a 5-year hold.

Baltimore, MD

  • Sign CA to View Offering Memorandum

  • 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 Baltimore, MD 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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