The Self-Storage Group of Cushman & Wakefield has been exclusively retained to arrange the sale of the Arlington, VA Self-Storage Opportunity.
Take advantage of the opportunity to acquire an established self-storage facility in the densely populated, affluent Washington, D.C., metropolitan area. The Property, which opened in 1986, consists of 49,437 rentable square feet spread across 886 units. The facility offers its customers a mix of ground-floor units, elevator-accessible units, and lockers.
As of August 14, 2024, the Property was 65.1% occupied in total space. The traditional self-storage units were 81.0% occupied and achieving $28.23 rent, while the lockers were 38.8% occupied and achieving $20.63 rent, presenting a clear path for revenue growth.
Located next to Jennie Dean Park, this facility is easily accessible from the busy I-395, which sees up to 201,000 vehicles per day. Additionally, over 294,900 people live within a 3-mile radius, and the median household income is well above the national average at just over $117,500. The trade area boasts an impressive 4.09 SF per person of self-storage, with only one store opening this decade. As a result of these factors, market rents average over $29 within a 3-mile radius of the site.
Arlington, VA boasts a diverse and robust economy driven by several key sectors, including government and defense, technology, healthcare, education, tourism, hospitality, retail, and services. The presence of federal agencies like the Pentagon, major defense contractors, tech companies, healthcare institutions, and educational organizations significantly contributes to the local economy. This diversity and stability ensure a resilient economic landscape, making the investment secure and promising.
This opportunity provides a robust in-place yield with significant upside available to investors. Investors can capitalize on management upside by leasing the remaining vacancy and marking the rent roll to market to achieve value-add returns.
