Exclusively Listed By:
EquiCap Commercial 

DEAL SUMMARY

​

List Price:     TBD by Market

NRSF:          66,583

Total Units:   714

Acres:          2.52987​​

​

INVESTMENT HIGHLIGHTS

​

PRIME LOCATION // Located in a densely populated

market with car counts exceeding 17,500K vehicles

per day on Sherman Blvd and 6,800 on Hopkins St.

​

EXCELLENT DEMOS // The three-mile trade area boasts 145K+ people.

​

FAVORABLE SUPPLY INDEX // The three-mile supply

index is 4.4 sq feet per person with 1.7 sq feet of Climate-Controlled space. This is well below the market average of 6.93 sq feet per capita in the Milwaukee MSA.

​

TOP OF CLASS FINISHES // Premium class “A”

construction and amenities.

​

UPSIDE THROUGH RATE AND EXPENSE

MANAGEMENT // Current achieved rents are $9.92/foot, while REIT budgets support market rents growing to north of $15/foot.

​

PARKING OPPORTUNITY // Includes a fenced and gated .50 acre lot which can be used for parking and staging rental vehicles.

​

INVESTMENT SUMMARY

​

Equicap Commercial is pleased to present North Milwaukee Self Storage (currently managed by The Storage Mall) located at 5350 N. Sherman Boulevard in Milwaukee, Wisconsin.

​

This opportunity comprises two separate parcels. The first parcel totals approximately 0.50 acres and is fully fenced and gated, while the second parcel encompasses 2.034 acres and is improved with a two-story brick, glass, and metal structure that was converted to self-storage use and opened in Fall 2022. The facility features 714 units totaling 66,583 net rentable square feet, offering a diverse mix of unit sizes designed to accommodate both residential and commercial tenants.

​

Constructed to institutional-grade standards, the property showcases high-quality materials and finishes both inside and out. Best-in-class amenities include front and rear loading docks with six total overhead doors - the rear loading dock, accessible via Hopkins Street, is large enough to accommodate multiple semi-trucks. Additional exterior features include a high-visibility monument sign, wrought iron perimeter fencing with gated entry, and two secured access points equipped with PTI keypad systems. Inside, customers are welcomed by a spacious on-site rental office featuring a staging area for moving supplies, a dedicated manager’s office, and a comfortable reception area. The facility offers comprehensive security with multiple surveillance cameras providing 24-hour monitoring. Interior corridors are brightly lit, featuring epoxy flooring, motion-sensor LED lighting, and two strategically placed elevators located near both loading docks for maximum customer convenience and operational efficiency.

Strategically positioned in a densely populated, underserved trade area, the property benefits from strong self-storage demand fundamentals. Within a three-mile radius, the population totals 145,843 residents, with a self-storage supply index of less than 4.5 square feet per person - including only 1.7 square feet per person of climate-controlled space.

​

Operationally, the property is currently achieving 58% occupancy by units, 67% occupancy by square footage, and an average occupied rental rate of $9.92 per square foot. According to REIT projections, the facility is expected to reach full stabilization within two years, with market rents forecasted to exceed $15 per square foot by Year 5. This opportunity provides a favorable environment for sustained NOI growth and profitability.

​​