For Sale
$2,400,000

109 Main StPort Jervis, NY 12771

High-demand, expansion-ready self storage

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional self-storage facility in Port Jervis, NY, presents a compelling value-add investment opportunity. Currently boasting 80 units with 98% occupancy, generating a $73,710 NOI and a pro-forma NOI of $102,210, the property sits on a 2.2-acre lot (APN: 331300-011-000-0004-003.220-0000) at 107, 108, and 109 W Main St, conveniently located near Routes 42, 6, 209, and Route 84, two minutes from Rt. 84. The property includes six buildings, totaling approximately 19,000-21,000 square feet, with 8,336 net rentable square feet. Built in 1936 and renovated in 2007, the property is zoned for industrial use and features three stories. An additional 20 units (8x12) are to be delivered soon, increasing the unit count to 100 upon purchase. Importantly, approved plans exist for a significant expansion adding 70 units (approximately 5,000 sq ft) across three new buildings (one 10x50ft, one 10x150ft, and one 20x150ft building). This expansion alone has the potential to nearly double the annual gross income. The existing 12,000 sq ft main building offers potential for conversion to indoor self-storage or warehouse space. The 8,800 sq ft surface parking lot at 108 W Main St presents an opportunity for RV/boat storage, catering to the nearby Delaware River and Delaware Water Gap Recreation Area. The 3-5 mile radius demonstrates significant undersupply in the market, creating a strong foundation for rental rate increases. All development potential should be verified with the local municipality.

Highlights

  • Self-storage facility with 80 units (98% occupancy), generating $73,710 NOI and a pro-forma NOI of $102,210.
  • Upon purchase, 20 additional units will be delivered, increasing the total to 100 units. Approved plans for a 70-unit expansion (approx. 5,000 sq ft) are in place, potentially doubling annual gross income.
  • Significant market undersupply within a 3-5 mile radius supports rental rate increases. The property includes six buildings totaling approximately 19,000-21,000 square feet, with 8,336 net rentable square feet, situated on a 2.2-acre lot (APN: 331300-011-000-0004-003.220-0000) at 107, 108, and 109 W Main St, Port Jervis, NY. The property is conveniently located near Routes 42, 6, 209, and Route 84.
  • The existing 12,000 sq ft main building offers potential for conversion to additional self-storage or warehouse space. An 8,800 sq ft surface parking lot provides an opportunity for RV/boat storage.

Property Details for 109 Main St

Property type
Self storage facilities
Square Feet
19,000 SF
Class
C
Year Built/Renovated
1936/2007
Buildings
6
Stories
3
Lot Size (sq. ft)
95,832 SF
Units
80

Location Insight

City
Port Jervis
County
Orange
State
New York
Latitude
41.378335129067
Longitude
-74.701622058398
109 Main St, Port Jervis, New York

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109 Main St
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