966 Meade St Dunmore, PA 18512
- Land
- 130,000 SF
- 3.30 lot acres
Current Use by Public Records
- Land
Property Details for 966 Meade St
- Lot size
- 3.30 lot acres
- Property size
- 130,000 SF
- Property type
- Land
- Property subtype
- Self storage facilities
Description
This exceptional 3.3-acre development opportunity in Dunmore, Pennsylvania, presents a lucrative investment in a high-demand self-storage market. The site plan is already approved for a state-of-the-art, three-story self-storage facility totaling 130,000 gross square feet, with 99,000 net rentable square feet. Located off Interstate 81, this property boasts exceptional visibility and accessibility, benefiting from a high traffic count of 60,000+ vehicles daily. The area's demographics are highly favorable, with over 96,000 people within a four-mile radius and a low storage space ratio of 3.86 square feet per person. Market rents are strong, averaging $20 per square foot for climate-controlled units. The property is serviced by public water, sewer, and gas utilities. This redevelopment project offers a projected NOI of $921,000 and a pro-forma cap rate of 73.68%, making it an attractive investment with significant potential for return. The asking price is $1,250,000, translating to $9.62 per square foot. This is a turnkey opportunity to capitalize on the undersupplied self-storage market in a thriving area with high household incomes averaging approximately $89,000. The planned facility will include modern security systems and convenient amenities. Don't miss this chance to build a successful self-storage facility in a prime location.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Dunmore
- County
- Lackawanna
- State
- Pennsylvania
- Longitude
- -75.6248
- Latitude
- 41.4107
