Call for offers deadline of Thursday, January 24, 2019.
Marcus & Millichap is pleased to offer for sale the Extra Space Storage managed facility located at 1450 Boston Providence Turnpike in Norwood, Massachusetts. The property features 1,011 climate controlled self-storage units, totaling 83,271 net rentable square feet. This class-A facility opened in the Fall of 2016 and has already achieved over 85% physical occupancy. The site sits on 5.25 acres of land.
The facility is in the affluent suburb of Norwood, just 15 miles Southwest from downtown Boston. Norwood is in Norfolk County which is the wealthiest county in the State. The average household income of those living within five miles is $136,953.
This investment opportunity provides an investor the opportunity to acquire a newly built self-storage facility in a well-developed and densely populated area. There are currently 115,290 people located within a five-mile radius of the property. The facility is conveniently located across Boston Providence Highway from a shopping center that consists of Home Depot, a Stop & Shop grocery store, Friendly's Restaurant, Chipotle Mexican Grill, Citizens Bank, and many other prominent national retailers. There is a large business park and several housing communities and new developments in close proximity as well.
Extra Space Self Storage is being exclusively offered for $19,900,000.