40 Stafford RdStafford, CT 06076

Property Details for 40 Stafford Rd

Year built

1989

Construction

MASONRY/CONCRETE MASONRY UNITS (CMUS)

Lot size

5.54 AC

Property size (Sq ft)

47,409 SF

Zone code

HI

Property type

Other commercial real estate

Property subtype

Showrooms

APN

STAF M:48 L:006

APU

STAFM48L006

Description

This exceptional self-storage facility in Stafford, CT, presents a compelling investment opportunity. Boasting 35,000 net rentable square feet across 342 units within a single, two-story building on a 5.54-acre lot, this Class B property offers significant income potential. Currently operating at 96% physical occupancy (projected 96% as of September 29, 2024), the facility benefits from a strong location on W. Stafford Road, providing convenient access and high visibility. The property features non-climate-controlled interior units equipped with dehumidifiers, ample on-site parking, secure keypad entry, 24-hour surveillance, and hydraulic lift loading docks. The limited competition in the immediate trade area and pre-approved expansion potential of an additional 6,000 square feet further enhance its value. Built in 1989, this fee-simple property is priced at $165 per square foot, offering a 6.50% cap rate. The property's strategic rental rates ensure robust cash flow, making it an ideal acquisition for investors seeking a stabilized, high-performing asset with room for growth. The property's APN is STAF M:48 L:006. This is a rare opportunity to acquire a premier self-storage facility in a thriving Connecticut market.

• CAP approach

  CAP return

  Valuation

  6%

  $11,522,042

  6.5%

  $10,635,731

  7%

  $9,876,036

• Comparable approach

  Method

  Valuation

  Relative Method

  $15,610,039

  Geo Method

  $15,610,039

• Alternative Use

  Use

  Valuation

  Residential

  $8,971,637

  Hospitality

  $8,217,972

  Educational

  $6,837,256

  Medical

  $7,072,400

  Retail

  $10,635,731

Location Insight

City

Stafford Springs

County

Tolland

State

Connecticut

Latitude

41.9637

Longitude

-72.3216

CBSA code

25540

CBSA name

HARTFORD-WEST HARTFORD-EAST HARTFORD, CT METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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