72 Industrial Park Drive
Waldorf, MD 20602
3150 Leonardtown Road
Waldorf, MD 20601
Situated at 72 Industrial Park Drive and 3150 Leonardtown Road, the two self-storage facilities combine for a total of 101,262 net rentable square feet among 906 units and 25 buildings. There are 52 additional vehicle parking spaces. The portfolio-wide physical occupancy as of August 31, 2019 was 92 percent, with the economic occupancy slightly below at 89.4 percent on a trailing twelve-month basis. Physical amenities at each location include fully fenced perimeters with electronic keypad gate entry, video surveillance, state-of-the-art management system and an on-site manager’s apartment.
The two properties are strategically located less than three miles apart, in what has become a growing suburb of southern Prince George’s County, home to the rapidly expanding National Harbor development zone. Population within three miles of each facility is just below 60,000 with median household incomes of $89,542 and $95,630, respectively. Recent growth has necessitated the opening of Waldorf’s third and fourth high schools in 2005 and 2014 with additional high-end residential and retail developments in the pipeline.
The subject properties are located just 23 miles from Washington, D.C. Ownership will provide a solid, cash-flowing investment with room for substantial revenue growth through rental rate management, further tenant insurance penetration and increased ancillary income streams.