Stabilized Self-Storage Conversion
For Sale
$6,900,000
21 Terminal Way, Norwich, CT 06360
Four-story self-storage facility with 348 units in Norwich, CT.
Property Size51,200 SF
Price / SF$134.77
Days on Market207
Property Features for 21 Terminal Way
General Information
Standard status
Active
Size
51,200 SF
Property subtype
Self Storage
Listing Agency:
National Storage Partners
(914) 489-7909
Listed By:
Hans Hardisty
Source:
Nationalstoragepartners
Added: Jan 27
Changed: Jul 6
Last Checked: Aug 21 at 5:39AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of National Storage Partners
Investment Insights
Based on property information with market context.
This stabilized four-story self-storage conversion features 348 interior units, with sizes ranging from 5x3 to 20x30. The facility has been performing at 112% economic occupancy. Located in Norwich, CT, the property benefits from a market with 6.2 square feet per capita within a 5-mile radius. The property has a strong outlook for continued rental increases and maximizing occupancy. Norwich offers convenient access to major transportation routes, including Interstate 395. Nearby attractions include Mohegan Park, Slater Memorial Museum, and the Leffingwell House Museum. The area's budding business scene and robust industrial sector make it an ideal location for an industrial or self-storage venture. The property consists of 51,700 gross square feet and 35,700 net rentable square feet and is 90% occupied.
Key Highlights
- High Economic Occupancy: Currently performing at 112%.
- Undersupplied Market: Located in Norwich with only 6.2 SF of storage per capita in a 5‑mile radius.
- Strong Potential for Rental Increases: Outlook for continued rental increases and maximizing occupancy.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
165
Businesses Nearby
Explore this area
Business Placement
Demographics for 06360, CT
37,104
Population
17,739
Households
2.1
Avg Household Size
39
Median Age
23%
College-Educated
88%
High-School Grad
26.8 sq mi
ZIP Area
1,384
Density / Sq Mi
$65,848
Median Household Income
$42,287
Median Earnings
$1,207
Median Rent
$233,500
Median Home Value
Market
Vacancy Rate% for Industrial in Northeast region
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Self storage facility - Four-story self-storage facility with 348 units in Norwich, CT.
Where is this self storage facility located?
The property is located at 21 Terminal Way Norwich, CT.
What is the asking price?
The asking price for this property is $6,900,000.
What are key features of this property?
This property features: High Economic Occupancy: Currently performing at 112%.; Undersupplied Market: Located in Norwich with only 6.2 SF of storage per capita in a 5‑mile radius.; Strong Potential for Rental Increases: Outlook for continued rental increases and maximizing occupancy.
