112 Walnut St Dallastown, PA 17313

Property Details for 112 Walnut St

Year built

1906

Lot size

0.33 lot acres

Property size

22,904 SF

Zone code

RS

Property type

Warehouses

Property subtype

Self storage facilities

APN

56-000-04-0392.00-00000

APU

560000403920000000

Description

This exceptional 180-unit self-storage facility, situated on a 0.33-acre corner lot in the heart of Dallastown, Pennsylvania, presents a compelling investment opportunity. Boasting 31,498 square feet, the property enjoys a highly desirable non-conforming status, preventing future competition. Currently operating at 95% occupancy with below-market rents, this facility offers significant upside potential. Value-add strategies include raising rents to market rates, leasing vacant units, and developing the 4,000-square-foot second floor into additional storage space. Recent capital improvements, completed in 2022, include a $90,000 blacktop road resurfacing and a $20,000 keyless entry system upgrade. The sale includes a website, security cameras, the keyless entry system, and an elevator shaft connecting the ground and second floors. The property is being offered at a 7.7% cap rate based on actual financial performance. Detailed financial statements, a property survey, and a clean environmental Phase 1 report are available upon request. The seller, currently divesting from this asset, is open to seller financing via a second mortgage, making this an even more attractive proposition for qualified buyers. This presents a rare chance to acquire a well-established, high-performing self-storage facility with substantial room for growth and increased profitability.