DEAL SUMMARY

​

List Price:  Market Bid

NRSF:        181,354

Units:         1,313

Locations:  5

​

INVESTMENT HIGHLIGHTS

​

IMMEDIATE SCALE & STRONG OCCUPANCY // 181,354 NRSF across five properties with 94% physical occupancy throughout the portfolio.

 

BELOW-MARKET IN-PLACE RENTS // Significant opportunity to drive revenue and NOI through professional revenue management and strategic rental rate increases.

 

MINIMAL NEAR-TERM CAPITAL NEEDS // Long-term ownership has maintained the properties to a high standard, allowing a new operator to focus on revenue growth rather than deferred maintenance.

 

MULTIPLE UNTAPPED REVENUE STREAMS // Opportunity to implement tenant insurance, enhance digital marketing and SEO, and actively market vacant office and commercial spaces that ownership has historically not advertised for lease.

 

DIVERSIFIED COMMERCIAL INCOME // Additional income from office, warehouse, and retail uses, including a Kwik Fill gas station that ranks #14 out of 290 Kwik Fill locations nationwide for visits.

 

EXPANSION & CLIMATE-CONTROLLED UPSIDE // Approved expansion plans at the Geneva facility, along with the potential to convert select commercial spaces to climate-controlled storage in markets with limited climate-controlled supply.

 

LIMITED NEAR-TERM SUPPLY PRESSURE // No self-storage facilities currently under construction within the 5-mile trade areas of four of the portfolio’s five properties.

​

INVESTMENT SUMMARY

​

EquiCap Commercial, in partnership with ParaSell, Inc., is pleased to exclusively present the Finger Lakes Self Storage Portfolio, a five-property offering totaling 181,354 NRSF across New York’s Finger Lakes region:

 

The portfolio is currently 94% physically occupied across 1,313 units and consists predominantly of high-quality, well-maintained drive-up self-storage, complemented by climate-controlled units at the Corning location. Developed in phases beginning with Keuka Mini Storage in 1987 and continuing through the mid-2000s, the properties have been exceptionally well cared for by long-term ownership, providing a strong physical and operational foundation with minimal near-term capital needs.

 

In addition to self-storage revenue, the portfolio benefits from multiple income-producing commercial spaces, including offices, warehouse space, and a NNN Kwik Fill gas station at Keuka Mini Storage along State Route 54. The Kwik Fill ranks #14 out of 290 locations nationwide for visits, placing it in the 95th percentile, further demonstrating the strength of the location.

 

The portfolio is strategically positioned throughout New York’s Finger Lakes region, benefiting from strong household demographics across several trade areas and excellent visibility along major regional thoroughfares. Ownership intentionally targeted highly visible corridors with lower posted speed limits, providing greater exposure to passing motorists. The facilities serve established communities throughout Geneva, Bath, Corning, Painted Post, and Hammondsport, while also benefiting from the Finger Lakes region’s significant tourism and seasonal activity.

 

Pride of ownership is evident throughout the portfolio and despite strong occupancy and the portfolio’s well-maintained condition, meaningful upside remains for the next owner without the need for significant near-term capital investment. Existing rental rates remain below prevailing market levels, creating an immediate opportunity to drive NOI through a more active revenue management strategy. Additional upside includes implementing tenant insurance, enhancing digital marketing and SEO, and leasing currently vacant office and commercial spaces that ownership has historically not publicly marketed. Longer-term opportunities include approved expansion plans at the Geneva facility and the potential conversion of select commercial spaces to climate-controlled self-storage, which remains limited throughout these markets.