Rochester Storage Portfolio

Unpriced

Call for Offers: Thursday, March 23rd

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Brockport Mini Storage

Greece Ridge Mini Storage

Greece Mini Storage

Description	Rochester Storage Portfolio
Address	45 Cedarfield Commons, Rochester, NY 14612 4671 W Ridge Rd, Spencerport, NY 14559 & 4665 W Ridge Rd, Spencerport, NY 14559 1980 Transit Way, Brockport, NY 14420 496 Long Pond Rd, Rochester, NY 14612 (Retail)
County	Monroe
Total Units	1,418
Total NRSF	202,691

Deal Highlights

Financial Highlights

The portfolio experienced a revenue increase of 9% from 2021 to 2022. (Brockport: 9.90%, Greece Ridge: 11.70%, Greece Mini: 5.47%).
Ability to increase rents 10-15% depending on unit sizes and seasonality.
Expansion potential at two locations could provide an additional $682k+ in GPR.
Fully stabilized at all locations - achieving 90%+ occupancy with limited economic vacancy.
Ancillary income such as tenant insurance, retail sales and admin fees can be implemented.

Portfolio Highlights

57,600 NRSF approved expansion potential at Greece Mini location featuring flex units.
Opportunity to assume seller’s current CMBS loan: 4.18% fixed rate. (reference page 42 in OM).
8,960 NRSF approved expansion at Greece Ridge Mini location.
Recent Cap-Ex: Roofs and Parking redone at Greece Mini location & updated climate units, repaved Parking at Spencerport location.

Market Highlights

$25 billion allocated to improve housing developments across NY. - $172.5M of which is attributed to projects within the Rochester area.
Favorable self storage supply dynamic with less than 6 square feet per capita within a 5 mile radius (sub 5 at two locations).
$80k-$110k median income at all locations in the 1/3/5M radius.
Strong traffic counts: 29,843 VPD at Greece Ridge Mini Storage & 12,726 VPD at Greece Mini Storage.