966 Meade StDunmore, PA 18512

For Sale
$1,250,000

Prime I-81 location, site plan approved.

Overview

Added:
Dec 11, 2024
Days on market:
94
This exceptional 3.3-acre development opportunity in Dunmore, Pennsylvania, presents a lucrative investment in a high-demand self-storage market. The site plan is already approved for a state-of-the-art, three-story self-storage facility totaling 130,000 gross square feet, with 99,000 net rentable square feet. Located off Interstate 81, this property boasts exceptional visibility and accessibility, benefiting from a high traffic count of 60,000+ vehicles daily. The area's demographics are highly favorable, with over 96,000 people within a four-mile radius and a low storage space ratio of 3.86 square feet per person. Market rents are strong, averaging $20 per square foot for climate-controlled units. The property is serviced by public water, sewer, and gas utilities. This redevelopment project offers a projected NOI of $921,000 and a pro-forma cap rate of 73.68%, making it an attractive investment with significant potential for return. The asking price is $1,250,000, translating to $9.62 per square foot. This is a turnkey opportunity to capitalize on the undersupplied self-storage market in a thriving area with high household incomes averaging approximately $89,000. The planned facility will include modern security systems and convenient amenities. Don't miss this chance to build a successful self-storage facility in a prime location.

Highlights

  • Site plan approved for a self-storage development.
  • 130,400 square feet gross building area; 99,000 square feet net rentable.
  • High population density: 96,000+ people within a four-mile radius.
  • Low storage space per capita: 3.86 square feet per person within a four-mile radius.
  • $20 per square foot market rents.
  • 3.3-acre lot; excellent I-81 visibility and access.

Property Details for 966 Meade St

Property type
Other land, Self storage facilities
Square Feet
130,000 SF
Lot Size (sq. ft)
143,748 SF

Location Insight

City
Dunmore
County
Lackawanna
State
Pennsylvania
Latitude
41.410684362863
Longitude
-75.624800124778
966 Meade St, Dunmore, Pennsylvania

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966 Meade St
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