New Berlin Self Storage

58,300 NRSF | 258 Units | New Berlin, WI

Under LOI

Call for Offers:

August 3, 5:00 PM

INVESTMENT OVERVIEW

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.

Facility Summary

Property Name:              New Berlin Self Storage

Address:                           17505 W Liberty Ln, New Berlin, WI 53146

County:                             Waukesha

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

Investment Highlights

  • 58,300 NRSF | 258 Units + 64 Parking Spaces
  • 93% Physical Occupancy | 80% Economic Occupancy
  • Newly implemented in-place rate increases, creating upside in revenue within next few months
  • Strong performing, owner-managed asset with additional room to push revenue
  • Located in suburb of the Milwaukee, WI MSA
  • Brand new roofs on 6 of the 11 buildings