Opportunity
 The Market
 Investment
 Map

The Hatcher Group of Marcus & Millichap is pleased to exclusively offer for sale Coastal Mini Storage located in Elkridge, Maryland. The facility consists of 422 non-climate-controlled units and one vacant warehouse space totaling 39,435 net rentable square feet. This is a stabilized cash flowing facility that is currently 88% physically occupied. The property is fully fenced with a keypad, gated entry, an on-site management office, and 24-hour video surveillance.

The location of this facility benefits from a dense and rapidly growing surrounding population. The population within five miles of the facility is 190,824, which represents a 35% increase since 2000 and is expected to continue to grow over the next five years. The facility is located roughly 12 miles from the city of Baltimore and five miles from Baltimore/Washington International Thurgood Marshall Airport. US-Route 1 and Interstate 95 are located less than a mile from the facility. They are surrounded by lots of residential neighborhoods, as well as restaurants and retail stores.

Coastal Mini Storage is being offered for $5,250,000 or $133.13 per rentable square foot.

Population
In 2020, the population in your selected geography is 190,824. The population has changed by 34.73% since 2000. It is estimated that the population in your area will be 206,621 five years from now, which represents a change of 8.28% from the current year. The current population is 50.16% male and 49.84% female. The median age of the population in your area is 35.64, compare this to the US average which is 38.21. The population density in your area is 2,426.50 people per square mile.

Households
There are currently 69,735 households in your selected geography. The number of households has changed by 40.31% since 2000. It is estimated that the number of households in your area will be 75,936 five years from now, which represents a change of 8.89% from the current year. The average household size in your area is 2.64 persons.

Income
In 2020, the median household income for your selected geography is $104,299, compare this to the US average which is currently $62,990. The median household income for your area has changed by 54.29% since 2000. It is estimated that the median household income in your area will be $122,577 five years from now, which represents a change of 17.52% from the current year.

The current year per capita income in your area is $50,916, compare this to the US average, which is $34,935. The current year average household income in your area is $137,877, compare this to the US average which is $90,941.

Race & Ethnicity
The current year racial makeup of your selected area is as follows: 47.36% White, 29.25% Black, 0.08% Native American and 14.73% Asian/Pacific Islander. Compare these to US averages which are: 69.84% White, 12.88% Black, 0.20% Native American and 5.75% Asian/Pacific Islander. People of Hispanic origin are counted independently of race.

People of Hispanic origin make up 9.43% of the current year population in your selected area. Compare this to the US average of 18.38%.

Housing
The median housing value in your area was $418,101 in 2020, compare this to the US average of $221,068. In 2000, there were 34,943 owner occupied housing units in your area and there were 14,759 renter occupied housing units in your area. The median rent at the time was $833.

Employment
In 2020, there are 155,935 employees in your selected area, this is also known as the daytime population. The 2000 Census revealed that 78.52% of employees are employed in white-collar occupations in this geography, and 21.64% are employed in blue-collar occupations. In 2020, unemployment in this area is 3.23%. In 2000, the average time traveled to work was 33 minutes.

■ 39,435 Net Rentable Square Feet
■ 422 Non-Climate Controlled Units
■ Second Floor Conversion Opportunity with Vacant 3,300 SF Space and Additional 99 5×5 Currently Unused/Vacant Storage Units
■ Stabilized Facility: 88% Physically Occupied
■ Rental Rates are Below the Market Average
■ Very Well-Maintained Property
■ Recent Renovations: All New Doors
■ Cell Tower Lease with 18 Years Left
■ Great Visibility from Maryland 175
■ Undersaturated Self Storage Market: 8.33 NRSF Per Capita Within a Three-Mile Radius; 6.13 NRSF Per Capita Within a Five-Mile Radius
■ Dense & Growing Population: 190,824 People Living Within a Five-Mile Radius – Represents a 35% Increase Since 2000

Go to Top