11560 Pulaski Hwy White Marsh, MD 21162

Property Details for 11560 Pulaski Hwy

Year built

1993

Lot size

4.00 lot acres

Property type

Self storage facilities

Description

This exceptional self-storage facility in White Marsh, MD, presents a compelling investment opportunity. The property boasts 59,582 net rentable square feet across four single-story buildings, encompassing 292 units. Built in 1993, this stabilized and cash-flowing asset features 158 climate-controlled units and 133 outdoor parking spaces, along with one commercial and one residential rental unit, contributing over $40,000 annually to the NOI. The property sits on a 4-acre lot at 11560 Pulaski Hwy, 21162, and enjoys a strong 92.81% physical occupancy, translating to a 95.81% economic occupancy. The average storage rate per square foot is significantly higher than the parking rate, suggesting potential for revenue growth through expansion. Limited competition for outdoor parking rentals supports further rent increases. The property benefits from a prime location within a thriving market, with an affluent demographic base: 118,706 residents within a five-mile radius, boasting an average household income of $110,239. White Marsh's strategic location, just 10 miles northeast of downtown Baltimore, and a recent population surge of 27.29% since 2020, further enhance its investment appeal. The property's strong performance is reflected in its impressive NOI of $356,498 and a 6.54% cap rate, with an asking price of $5,450,000 ($18,664.38 per unit). This is a rare opportunity to acquire a high-performing asset in a rapidly growing market.