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Griffin Self Storage & Milan Self Storage Two Property Portfolio
Multiple Addresses, Milan, Michigan
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Property Info
Price: $8,475,000
Units: 467
Year Built:
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Download Marketing Package
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Broker Contact Info
Brett Hatcher
614.360.9043
Brett.Hatcher@marcusmillichap.com
Opportunity
The Market
Investment
Map
• Milan, Michigan Two Property Self-Storage Portfolio
• Two Properties Located Across the Street From One Another
POPULATION
In 2022, the population in your selected geography is 13,117. The population has changed by 17.8 percent since 2000. It is estimated that the population in your area will be 13,210 five years from now, which represents a change of 0.7 percent from the current year. The current population is 57.2 percent male and 42.8 percent female. The median age of the population in your area is 39.3, compared with the U.S. average, which is 38.6. The population density in your area is 167 people per square mile.
HOUSEHOLDS
There are currently 4,253 households in your selected geography. The number of households has changed by 18.0 percent since 2000. It is estimated that the number of households in your area will be 4,274 five years from now, which represents a change of 0.5 percent from the current year. The average household size in your area is 2.6 people.
INCOME
In 2022, the median household income for your selected geography is $74,785, compared with the U.S. average, which is currently $66,422. The median household income for your area has changed by 31.3 percent since 2000. It is estimated that the median household income in your area will be $93,251 five years from now, which represents a change of 24.7 percent from the current year.
The current year per capita income in your area is $33,145, compared with the U.S. average, which is $37,200. The current year’s average household income in your area is $95,877, compared with the U.S. average, which is $96,357.
EMPLOYMENT
In 2022, 5,368 people in your selected area were employed. The 2000 Census revealed that 52.7 percent of employees are in white-collar occupations in this geography, and 47.3 percent are in blue-collar occupations. In 2022, unemployment in this area was 4.0 percent. In 2000, the average time traveled to work was 23.2 minutes.
HOUSING
The median housing value in your area was $226,501 in 2022, compared with the U.S. median of $250,735. In 2000, there were 2,828 owner-occupied housing units and 777 renter-occupied housing units in your area. The median rent at the time was $576.
EDUCATION
The selected area in 2022 had a higher level of educational attainment when compared with the U.S averages. Only 10.4 percent of the selected area’s residents had earned a graduate degree compared with the national average of 12.3 percent, and 14.9 percent completed a bachelor’s degree, compared with the national average of 19.7 percent.
The number of area residents with an associate degree was higher than the nation’s at 10.7 percent vs. 8.4 percent, respectively.
The area had more high-school graduates, 30.1 percent vs. 27.1 percent for the nation. The percentage of residents who completed some college is also higher than the average for the nation, at 26.2 percent in the selected area compared with the 20.4 percent in the U.S.
• Milan, Michigan Two Property Self-Storage Portfolio
• Two Properties Located Across the Street From One Another
• Mix of Climate-Controlled & Non-Climate Controlled Units
• Currently Undergoing an Expansion at Griffin Self Storage Featuring 120 Units Totaling 18,400 NRSF
• Growing Surrounding Population: 18% Increase Within Five Miles Since the Year 2000
• Self-Service Kiosks at Both Locations
• Easily Accessible Locations and Close Access to US-23
• Affluent Market