New Climate-Controlled Self Storage
For Sale
Contact for pricing
3018 Route 38, Mount Laurel, NJ 08054
Three-story storage property with perimeter drive-up units, controlled access, elevator-served loading areas, and on-site management space.
Property Size118,930 SF
Lot Size3.88 Acres
Price / SF$229.97
Days on Market61
Property Features for 3018 Route 38
General Information
Standard status
Active
Size
118,930 SF
Class
A
Lot size
3.88 Acres
Property subtype
Self Storage
Investment Type
Value Add
Site & Location
Highway Access
Yes
Road Access
Yes
Fenced Yard
Yes
Additional Details
Asking Price
$27,350,000
Self-Storage Units
1,094
Amenities
full-service on-site management office
access control lift gates
keypad access control
security camera coverage
loading areas with elevators
motion-activated LED lighting
perimeter fencing
drive-up climate-controlled units
Building Details
Year Built
2026
Buildings
1
Stories
3
Units
1094
Building Size
118,930 SF
Listing Agency:
Colliers - Nashville, Tennessee
(615) 850-2774
Listed By:
Ashley Compton · License #TN 77340
Source:
Crexi
Added: Jul 3
Changed: Aug 30
Last Checked: Sep 1 at 12:10AM
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 Colliers - Nashville, Tennessee
Investment Insights
Based on property information with market context.
Scheduled for delivery in September 2026, this three-story self storage property will provide 1,094 units totaling 118,930 rentable square feet on approximately 3.88 acres. The climate-controlled facility includes drive-up units along the building perimeter, an on-site management office, two access-control lift gates, keypad entry throughout, security camera coverage, motion-activated LED lighting, and full perimeter fencing. Two loading areas are each served by elevators.
The property is located at 3018 Route 38 in Mt. Laurel, New Jersey, along a corridor reporting approximately 28,784 vehicles per day. The surrounding trade area includes 37,338 residents within three miles and 132,930 residents within five miles, with average household income exceeding $163,000 within three miles. Climate-controlled inventory is reported at 2.98 SF per capita within three miles and 1.21 SF per capita within five miles.
The property is located at 3018 Route 38 in Mt. Laurel, New Jersey, along a corridor reporting approximately 28,784 vehicles per day. The surrounding trade area includes 37,338 residents within three miles and 132,930 residents within five miles, with average household income exceeding $163,000 within three miles. Climate-controlled inventory is reported at 2.98 SF per capita within three miles and 1.21 SF per capita within five miles.
Key Highlights
- 1,094 self storage units totaling 118,930 rentable square feet
- Three‑story climate‑controlled facility scheduled for delivery in September 2026
- Approximately 3.88 acres at 3018 Route 38, Mt. Laurel, NJ 08054
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$1,772,877
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
6.48%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$35,457,540
$35.5M
Cap Rate 7%
$25,326,814
$25.3M
Cap Rate 9%
$19,698,633
$19.7M
Market Conditions
NOI Build-Up for 118,930 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$2.67M $22.44/SF
− Vacancy
−$136.1K −$1.14/SF
EGI
$2.53M $21.30/SF
− OpEx
−$759.8K −$6.39/SF
NOI
$1.77M $14.91/SF
Area
Burlington County, NJ
Vacancy
5.10%
Lease Rate
$22.44 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$35,457,540
Cap Rate 7%
$25,326,814
Cap Rate 9%
$19,698,633
Alternative Uses
Best Use
Warehouse
$248.74M
$217.65M – $290.20M
NOI $17,411,787 @ 7.0% cap · market cap 63.66%
Second Best
Self Storage
$25.33M
$22.16M – $29.55M
NOI $1,772,877 @ 7.0% cap · market cap 6.48%
Theoretical Best
—
—
same as Best Use
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Yes
Fenced yard
Yes
Highway access
Yes
Paved road access
Location Intelligence
Trade Area within ½ mile
511
Businesses Nearby
Explore this area
Business Placement
Demographics for 08054, NJ
44,633
Population
19,966
Households
2.2
Avg Household Size
44
Median Age
56%
College-Educated
96%
High-School Grad
21.7 sq mi
ZIP Area
2,057
Density / Sq Mi
$114,629
Median Household Income
$67,986
Median Earnings
$1,966
Median Rent
$341,400
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 - Three-story storage property with perimeter drive-up units, controlled access, elevator-served loading areas, and on-site management space.
Where is this self storage facility located?
The property is located at 3018 Route 38 Mount Laurel, NJ.
What is the asking price?
The asking price for this property is $27,350,000.
What are key features of this property?
This property features: 1,094 self storage units totaling 118,930 rentable square feet; Three‑story climate‑controlled facility scheduled for delivery in September 2026; Approximately 3.88 acres at 3018 Route 38, Mt. Laurel, NJ 08054
