40 Stafford Rd Stafford Springs, CT 06076-1067

Property Details for 40 Stafford Rd

Year built

1989

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

5.54 lot acres

Property size

47,409 SF

Zone code

HI

Property type

Showrooms

APN

STAF M:48 L:006

APU

STAFM48L006

Description

This exceptional self-storage facility in Stafford, CT, presents a compelling investment opportunity. Boasting 35,000 net rentable square feet across 342 units within a single, two-story building on a 5.54-acre lot, this Class B property offers significant income potential. Currently operating at 96% physical occupancy (projected 96% as of September 29, 2024), the facility benefits from a strong location on W. Stafford Road, providing convenient access and high visibility. The property features non-climate-controlled interior units equipped with dehumidifiers, ample on-site parking, secure keypad entry, 24-hour surveillance, and hydraulic lift loading docks. The limited competition in the immediate trade area and pre-approved expansion potential of an additional 6,000 square feet further enhance its value. Built in 1989, this fee-simple property is priced at $165 per square foot, offering a 6.50% cap rate. The property's strategic rental rates ensure robust cash flow, making it an ideal acquisition for investors seeking a stabilized, high-performing asset with room for growth. The property's APN is STAF M:48 L:006. This is a rare opportunity to acquire a premier self-storage facility in a thriving Connecticut market.