Self Storage Portfolio with
For Sale
$9,500,000
52-54 Jersey Ave, Port Jervis, NY 12771
Tri-state self-storage cluster totaling approximately 162,978 NRSF across 624 units, including 394 climate-controlled units.
Property Size62,978 SF
Price / SF$150.85
Days on Market50
Property Features for 52-54 Jersey Ave
General Information
Standard status
Active
Size
62,978 SF
Total Parking Spaces
34
Property subtype
Commercial
Occupancy
90%
Net Operating Income
$527,035
Additional Details
Business Included
Yes
Building Details
Building Size
62,978 SF
Units
624
Listed By:
Russell Handelman · License #475.215960 (IL)
(872) 260-5752
Source:
Matthews
Added: Jul 18
Changed: Aug 8
Last Checked: Sep 4 at 2:04AM
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 Russell Handelman
Investment Insights
Based on property information with market context.
Fort Knox Self Storage is a four-site self-storage cluster spanning Port Jervis, NY; Matamoras, PA; and Montague, NJ within a ±5-mile radius. The portfolio totals approximately 162,978 NRSF across 624 units, with 394 climate-controlled units and 196 non-climate-controlled units. The properties also include 34 parking spaces.
The current operating statistics are presented as a current NOI of $527,035 and a stabilized NOI of $773,098. The average yearly rental rate across the portfolio is noted as $18 per NRSF.
The offering indicates expansion potential on three of the four sites, and reports a 90% physical occupancy. The remarks further note that rents are below-market, creating an immediate value-add opportunity, and provide supply-per-capita figures for the 3- and 5-mile radii.
The current operating statistics are presented as a current NOI of $527,035 and a stabilized NOI of $773,098. The average yearly rental rate across the portfolio is noted as $18 per NRSF.
The offering indicates expansion potential on three of the four sites, and reports a 90% physical occupancy. The remarks further note that rents are below-market, creating an immediate value-add opportunity, and provide supply-per-capita figures for the 3- and 5-mile radii.
Key Highlights
- Fort Knox Self Storage tri‑state cluster totaling approx. 162,978 NRSF across 624 units within a 1‑mile radius across Port Jervis, NY; Matamoras, PA; and Montague, NJ
- Portfolio unit mix includes 394 climate‑controlled units and 196 non‑climate‑controlled units
- Current NOI is $527,035 and stabilized NOI is $773,098
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
$640,603
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
6.74%
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%
$12,812,060
$12.8M
Cap Rate 7%
$9,151,471
$9.2M
Cap Rate 9%
$7,117,811
$7.1M
Market Conditions
NOI Build-Up for 62,978 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
$808.6K $12.84/SF
− Vacancy
−$55.0K −$0.87/SF
EGI
$753.7K $11.97/SF
− OpEx
−$113.0K −$1.80/SF
NOI
$640.6K $10.17/SF
Area
Sullivan County, NY
Vacancy
6.80%
Lease Rate
$12.84 /SF/Yr
Expense Ratio
15.00%
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%
$12,812,060
Cap Rate 7%
$9,151,471
Cap Rate 9%
$7,117,811
Alternative Uses
Best Use
Warehouse
$9.15M
$8.01M – $10.68M
NOI $640,603 @ 7.0% cap · market cap 6.74%
Second Best
Self Storage
$8.34M
$7.30M – $9.73M
NOI $584,033 @ 7.0% cap · market cap 6.15%
Theoretical Best
Office A
$17.27M
$15.11M – $20.15M
NOI $1,209,178 @ 7.0% cap · market cap 12.73%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Lease Details
Turnkey business
Opportunity
Location Intelligence
Trade Area within ½ mile
1,062
Businesses Nearby
Explore this area
Business Placement
Demographics for 12771, NY
14,423
Population
6,163
Households
2.3
Avg Household Size
41
Median Age
21%
College-Educated
91%
High-School Grad
34.6 sq mi
ZIP Area
417
Density / Sq Mi
$67,926
Median Household Income
$38,539
Median Earnings
$1,310
Median Rent
$246,100
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 - Tri-state self-storage cluster totaling approximately 162,978 NRSF across 624 units, including 394 climate-controlled units.
Where is this self storage facility located?
The property is located at 52-54 Jersey Ave Port Jervis, NY.
What is the asking price?
The asking price for this property is $9,500,000.
What are key features of this property?
This property features: Fort Knox Self Storage tri‑state cluster totaling approx. 162,978 NRSF across 624 units within a 1‑mile radius across Port Jervis, NY; Matamoras, PA; and Montague, NJ; Portfolio unit mix includes 394 climate‑controlled units and 196 non‑climate‑controlled units; Current NOI is $527,035 and stabilized NOI is $773,098
