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LOCATION : The property is situated at 72 Florida Ave NE, Washington, DC, less than 1.7 miles Northeast of downtown Washington.
ACRES: ±0.85 acres (37,026 square feet)
TRAFFIC COUNT: ±25,400 VPD (Florida Ave NE); ±57,600 VPD (New York Ave NE); ±41,200 VPD (North Capitol St)
YEAR BUILT: March 2020
CONSTRUCTION DETAIL: The facility will consist of a single, three level building.
ELEVATOR DETAIL: ThyssenKrupp Elevator
HVAC DETAIL: Three Trane Pack and a Split System
OFFICE: Roughly 1,000 Sf office to Extra Space’s specifications, in addition there is roughly 400 SF of restrooms and bike storage
CLIMATE CONTROLLED: The facility is 100% climate controlled.
FEATURES AND AMENITIES: The facility will include surveillance cameras, individual unit
locks, climate control throughout, keypad entry, and on-site management.
PERSONNEL: The facility consists of three active personnel on rotation
MANAGEMENT: The property is professionally managed by Extra Space.
SOFTWARE: ESS Software - Power BI/Microsoft
SECURITY: The facility includes a 24-hour video surveillance system, security access by floor, and electronic gate access
OPERATION HOURS (ACCESS): Every Day: 6:00 am - 10:00 pm
OPERATION HOURS (OFFICE):
Mon-Fri: 9:30 am - 6:00 pm;
Sat: 9:00 am - 5:30 pm;
Sun: 10:00 am -2:00 pm
OFFERING PRICE: Unpriced
RENTABLE SQUARE FEET: 111,307 SF
EFFECTIVE RENTAL RATE: $33.28 PSF
NUMBER OF UNITS: 1,752
CURRENT OCCUPANCY: Economic – 33.1% / Physical – 50.5%
OFFER DEADLINE: May 6, 2022
Excellent Visibility to Over 124,200 VPD
72 Florida Self Storage has excellent visibility to Florida Ave NE (25,400 VPD), New York Ave NE (57,600 VPD) and North Capitol St (41,200 VPD).
New Best in Class Construction
72 Florida Self Storage was completed to Class A Standards in March 2020. The facility is extremely modern and has an assortment of modern features and amenities – including
over 1,700 100% climate-controlled units.
Minimal Surrounding Competitive Supply
The area within a three-mile radius of 72 Florida Self Storage contains only 3.2 square
feet of storage space per person, well below what is typically required in urban areas. This makes the market extremely underserved for an area as dense as Washington, DC.
Excellent Demographics with Projected Growth
There are nearly 405,000 residents with an average household income of over $148,500
within a three-mile radius of the property. The average household income is projected to
grow at an annual rate of 2.46% over the next five years.
Abundance of New Residential Development
There are over 6,000 new apartment units proposed, under construction, or delivered
since 2019 within a 0.4-mile radius of 72 Florida Self Storage.