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Marcus & Millichap Brokers Sell Middle Island Self Storage For $25M

Property Image
SOLD
$25,000,000
Gabriel Coe
Brett Hatcher
+ 1

New York

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74,061 SF
Sold
the dealplayerscompscontact
Property Image
SOLD

Marcus & Millichap Brokers Sell Middle Island Self Storage For $25M

901 Middle Country Road, Middle Island, NY, USA

See Similar Deals
74,061 SF
Sold
Gabriel Coe
Brett Hatcher
+ 1
Contact now

Summary

NEW YORK
Price Per Square Foot:$337
Total Square Footage:74061 SF
Transaction Type:Sale

Located at 901 Middle Country Rd. in Middle Island, this self storage property was recently sold. The transaction took place on 10/11/2021 for a total sale price of $25,000,000. The property consists of 726 units, with an average price per unit of $34,435. The total square footage of the property is 74,061, with a price per square foot of $337.

Summary of transaction details

  • Property Type: Self Storage
  • Transaction Amount: $25,000,000
  • Address: 901 Middle Country Rd.
  • Market: Middle Island
  • Units: 726
  • Price per Unit: $34,435
  • Square Footage: 74,061
  • Price per Square Foot: $337

The sale of this self storage property was facilitated by Nathan Coe, Brett Hatcher, Gabriel Coe, and John Krueger from Marcus & Millichap. These brokers represented the parties involved in the deal, ensuring a successful transaction.

Players

Gabriel Coe
9 deals$67.2M volume
BROKER

John Krueger
Marcus & Millichap
5 deals$64.8M volume
BROKER

Brett Hatcher
Marcus & Millichap
9 deals$67.2M volume
BROKER

Nathan Coe
Marcus & Millichap
6 deals$67.2M volume
BROKER

Details

SOLD
IMAGE: John Krueger, Brett Hatcher, Gabriel Coe & Nathan Coe DATE: 10/11/2021 ADDRESS: 901 Middle Country Rd. MARKET: Middle Island ASSET TYPE: Self Storage BROKERS: Nathan Coe, Brett Hatcher, Gabriel Coe & John Krueger - Marcus & Millichap SALE PRICE: $25,000,000 UNITS: 726 ~ PPU: $34,435 SF: 74,061 ~ PPSF: $337

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Deal Type
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)

$1,333,333.32

Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

5.33%

Cash Flow (Annual)-$88,819.73
Cash-on-Cash Return-1.27%
Monthly Debt Service$118,512.75
Annual Debt Service$1,422,153.05