Special Purpose Facility

Washington, DC Self Storage

1240 Mount Olivet Rd NE Washington, DC United States 20002
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Create an account on the Investor Center to save your search and investment preferences, save and share opportunities, access exclusive documents, and more. More questions? Visit our FAQ. You'll need to sign a Confidentiality Agreement (CA) to access exclusive documents in the Deal Room. Signing the CA means you agree not to divulge or release sensitive information related to this property. More questions? Visit our FAQ.

Key facts

Year Built 2021
Building Area Net
Land Area Net ()
Occupancy 45.0 %

Property description

LOCATION: Washington, DC Self Storage is located at 1240 Mount Olivet Rd NE, Washington, DC, off of the corner of West Virginia Ave NE and Mt Olivet Rd NE in Northwest Washington


ACRES: 0.4 Acres (17,424 SF)


TRAFFIC COUNT: Mount Olivet Rd NE (19,850 VPD), West Virginia Ave NE (10,350 VPD) and Bladensburg Rd (29,100 VPD)


UTILITIES: Water and Sewer: DC Water & Sewer Supply

Electricity: PEPCO

Waste Service: Waste Management


YEAR BUILT: June 2021


CONSTRUCTION DETAIL: Newly constructed, 6-story Class A Self Storage facility


ELEVATOR DETAIL: ThyssenKrupp Elevator


SOLAR PANEL: The property includes rooftop solar panels on-site, which generate $27,500 in annual revenue


APARTMENT: N/A


OFFICE: Roughly 500 Sf office to Extra Space’s specifications


CLIMATE CONTROLLED: The facility is 100% climate controlled


FEATURES AND AMENITIES: In addition to being completely climate controlled, the property includes features such as: covered loading, a loading dock, moving carts and other items, gate access on Sundays, and multiple entrance gates


PERSONNEL: One full-time Store Manager (40 hours) and one full-time Assistant Manager (40 hours)


MANAGEMENT: The property is professionally managed by Extra Space.


SOFTWARE: Point of Sale System: Breeze ;Gate System: Storlogix


SECURITY: The property is equipped with advanced security features such as video surveillance and electronic gate access


OPERATION HOURS (ACCESS): Every Day: 6:00 am - 10:00 pm


OPERATION HOURS (OFFICE): Mon-Fri: 9:30 am - 6:00 pm; Sat: 9:00 am - 5:30 pm; Sun: 10:00 am -2:00 pm


Investment highlights

New Best in Class Construction: Washington, DC Self Storage was completed to Class A Standards in June 2021. The facility is extremely modern and has an assortment of modern features and amenities – including over 700 100% climate-controlled units.


Excellent Visibility to Over 59,300 VPD: Washington, DC Self Storage has excellent visibility to Mount Olivet Rd NE (19,850 VPD), West Virginia Ave NE (10,350 VPD) and Bladensburg Rd (29,100 VPD).


Minimal Surrounding Competitive Supply: The area within a three-mile radius of Washington, DC Self Storage contains only 4.7 square feet of storage space per person, well below what is typically required in urban areas. This makes the market extremely underserved for an area as dense as Washington, DC.


Excellent Demographics with Projected Growth: There are nearly 350,000 residents with an average household income of over $150,000 within a three-mile radius of the property. The average household income is projected to grow at an annual rate of 2.62% over the next five years.


Proximity to Gallaudet University: The property is located less than half a mile from Gallaudet University, the world’s only university focused to serve deaf and hard of hearing students. The university has roughly 2,000 students and nearly 1,000 faculty members.

Last Updated Date: 29 Apr 2022

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Last Updated Date: 29 Apr 2022

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