Industrial & Logistics

Patchogue Self Storage

257 Waverly Ave Patchogue, New York United States 11772-2145
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A
Asking Price Contact for pricing
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Attributes

Year Built 2001
Building Area
Number of units 470

Property Description

Location - The property is situated along the east side of Waverly Avenue (CR 19), approximately 0.25 miles south of NY 27 (POW/MIA Memorial Highway) in the Village of Patchogue, Town of Brookhaven, Suffolk County, New York.

Acres - +/- 2.19 acres (95,181 square feet)

Traffic Count - +/- 16,500 VPD

Utilities - Water and sewer services are provided by the Suffolk County Water Authority. Electric service is provided by PSEGLI. Natural Gas Service is provided by National Grid.

Year Built - The property was constructed in phases from 1982, 1985, 1988, 1990, 1991 and 2001.

Construction Detail - The facility is comprised of a single two-story building. The foundation is concrete slab with spread footings. The supporting structure is steel framing with aluminum siding wall construction with a metal roof.

Elevator Detail - The building has a Southworth freight lift with a 2,000 lb. capacity.

Apartment - There is no apartment at the facility.

Office - The facility has a retail oriented customer service office which is approximately 500 square feet in size.  

Climate controlled - All units are non-climate.

Features and Amenities - The facility has electronic access control, secure fencing, 24-hour video surveillance, freight lift for transporting items to upper floor, drive-in loading, drive-up units, surface parking units and a retail oriented customer service office.

Management - The property is owned and managed by CubeSmart.

Software - The facility uses storEDGE software for the management of tenants.  

Security  - The facility is equipped with a 24-hour videos surveillance system.

Operation Hours - Office - Monday through Friday - 9:30 am to 6:00 pm; Saturday – 8:30 am to 5:00 pm; Sunday - 11:00 pm to 3:00 pm. Access - Monday through Sunday - 6:00 am to 10:00 pm

Investment Highlights

Affluent Customer Base – Suffolk County, New York, the county in which Patchogue Self Storage is located, was included in Forbes Magazine’s 2019 list of top 25 richest counties in America. Within a three-mile radius of the property, there are over 81,900 residents with an average annual household income of over $110,000.


Excellent Income Trends - The property’s in-place rental revenue and street rates exceed $24 per square foot.


Excellent Visibility and Accessibility – The property has over 250 feet of frontage along the east side of Waverly Avenue (CR 19), a high traffic arterial roadway providing direct access to NY 27 (POW/MIA Memorial Highway), the primary east/west highway on southern Long Island. Waverly Avenue has a dedicated center turn lane, enabling easy access for both directions of traffic.


Village of Patchogue - Patchogue is recognized as a model for economic revitalization success, boasting low commercial vacancy rates, trendy restaurants, specialty retailers and service providers, and hundreds of newer housing units in and outside of the downtown. In 2019, the local downtown area was recognized by the American Planning Association as one of America's four "Great Neighborhoods."

Last Updated Date: 29 Jul 2020
Steve Mellon
Steve Mellon
Managing Director, Capital Markets
Brian Somoza
Brian Somoza
Managing Director, Capital Markets
License details
CA-01510519

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Last Updated Date: 29 Jul 2020

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