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The Self Storage Vault - Brightwaters

59 Orinoco Dr Brightwaters, New York United States 11718-1134
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

Building Area

Property Description

Location - The property is situated along the south side of Orinoco Drive, approximately 0.25 miles east of Windsor Avenue in Brightwaters, Suffolk County, New York.


Acres - +/- 0.702 Acres (30,580 square feet)


Frontage - +/- 170 feet along the south side of Orinoco Drive


Utilities - Water service is provided by Suffolk County Water Authority and sewer service is provided by Suffolk County Department of Public Works. Electric service is provided by National Grid.


Year Built - The facility opened for business in December 2016.


Construction Detail - The facility is comprised of a single two-story building.


Elevator Detail - The facility has one Schindler oversized service elevator with a capacity of 5,000 pounds.


Apartment - There is no apartment at the facility.


Office - The facility has a retail oriented customer service office which is approximately 600 square feet in size.  


Climate Controlled - The facility is 100% climate controlled.


Features and Amenities - The facility has electronic access control, 24-hour video surveillance, secure fencing, climate controlled units, locker units, oversized elevator and a retail oriented customer service office which sells packing and shipping supplies.


Personnel - The facility has a full-time manager who works 40 hours per week.


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


Security - The facility is equipped with a 24-hour videos surveillance system with 16 cameras.


Operation Hours - Office - Monday through Saturday - 6:00 am to 9:00 pm (closed Tuesday)

Sunday - 9:00 pm to 5:00 pm. 


Operation Hours - Access - Monday through Sunday - 6:00 am to 9:00 pm

Investment Highlights

Recent Class A Construction - The Self Storage Vault opened for business in December 2016 and was constructed to Class A standards with an assortment of modern features and amenities


Market Leader With Limited Competition - The property is strategically located over two miles from the nearest competing self storage facility and the existing self storage inventory within a three-mile radius of the property is below average at 3.2 square feet per person. Further, because of its recent, high quality construction, The Self Storage Vault out positions its direct competitors in the surrounding area.


Affluent Customer Base - Suffolk County, New York, the county in which The Self Storage Vault 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 99,500 residents with an average annual household income of approximately $120,000. 


Excellent Income Trends - The property’s in-place rental revenue exceeds $26 per occupied square foot and current average “street rates” exceed $32 per square foot.


Upside Potential - Revenue and occupancy gains are achievable with the implementation of a structured management and marketing platform.

Last Updated Date: 27 Nov 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: 27 Nov 2020

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