The Mele Group of Marcus & Millichap Lists Northeast Storage For $3.65M

TAMPA, FL--The Mele Group of Marcus & Millichap has announced the listing of Northeast Self Storage (photo top right) in North Andover, Massachusetts. This leasehold interest provides an investor with 337 units and 45,650 net rentable square feet. The listing price of $3,650,000 represents $79.96 per square foot.

Michael A. Mele, Vice President/ Investments and Scott Rutherford, Senior Associate out of Marcus & Millichap’s Tampa office are working with Todd Tremblay and Robert Horvath, out of the Boston office, to represent the seller.

“This is an opportunity for an investor to come in and have a solid cash flowing deal in this high end area ” says Rutherford. “Looking at the strong occupancy history of this facility, currently at 95%, there is no reason to believe that rents can’t be pushed in the near future.”

Northeast Self Storage sits less than a mile away from Interstate 495, a major highway with traffic counts in excess of 82,000 cars per day. The strategic location provides good exposure with over 15,000 cars passing the facility each day and is surrounded by excellent demographics.

Amenities at this infill facility include, but are not limited to: computerized gate entrance, perimeter fencing, digital surveillance, freight elevators, roll-up doors, exterior lighting, fire sprinkled, and a manager's office. The facility’s quality of construction, strategic location, and amenities are of superior quality.

This offering provides a facility located in an irreplaceable infill location surrounded by residential and commercial developments that will provide a savvy investor with substantial capital appreciation and positive cash flow in the years to come.

Contacts:

Michael A. Mele

Marcus & Millichap

813 387 4700

or

Elizabeth Scarwid
Marketing Coordinator
The Mele Group of Marcus & Millichap
Real Estate Investment Brokerage Company of Florida
7650 Courtney Campbell Causeway, # 920
Tampa, FL 33607