New Berlin Self Storage was built in 1994 & 2002 and contains 322 storage rentals including 258 units and 64 parking spaces. It sits on the Milwaukee/Waukesha County border located in the city of New Berlin, WI. The property has been well-maintained and owner-managed since development and maintains up-side through newly implemented rate increases and the addition of 3rd party revenue streams.
The property offers unit sizes that range from 50-1000 SF and contains both drive-up and hallway accessible units. The facility is equipped with the necessary security measures including on-site cameras, automatic gate access, fencing surrounding the perimeter, and lights for outside of office hours. The facility is also fixed with brand new roofs on over half of the buildings (currently under construction) and paved drive-aisles throughout the site.
While the property maintains strong cash- flow and rental rates that align with the market, there is additional room to grow revenue through implementation of tenant insurance & merchandise income. The owners recently raised rates on both their asking rates, as well as in-place tenants, which will show an increase in revenue within the next few months.
Located in a very strong income area ($91,000/year) and at 93% physical occupancy with the economic occupancy moving upward, this property boasts a very positive cash flowing opportunity for a new investor.
Property Name: New Berlin Self Storage
Address: 17505 W Liberty Ln, New Berlin, WI 53146
Total Land Area: 5.65 Acres +/-
Total NRSF: 58,300
Total Units: 258
Total Parking Units: 64
Unit Sizes: 50-1000 SF
Physical Occupancy: 93%
Economic Occupancy: 80%
Buildings: 11 Drive-Up Buildings