Overview
The Cushman & Wakefield Self-Storage Advisory Group has been exclusively retained to offer for sale a best‑in‑class, core self-storage facility located in the high-growth, high-income city of Bellevue, Washington—one of the premier submarkets within the Seattle metro area.
Built in 2016 to Class A institutional standards, this 103,397 NRSF facility spans 988 units across six floors with a modern layout featuring both climate-controlled units and larger drive-up options.
Prominently positioned at the corner of Northup Way and 124th Ave NE and the SR520 on-ramp/exit ramp, the property offers exceptional visibility with traffic counts exceeding 37,000 cars daily, ensuring consistent exposure and demand.
The area offers unrivaled demographics, with rapid urban infill residential development, significant employment growth driven by major high-tech and AI corporate presence, and robust population growth. The three-mile trade area is characterized by low existing inventory of 6.85 SF/capita, no new supply in the development pipeline, and extremely high barriers to entry.
This offering represents a rare chance to acquire a stabilized, best-in-class, trophy self-storage facility in Bellevue, WA—one of the premier trade areas on the entire West Coast.
Investment Highlights
• Ideal Size and Layout: 103,397 Net Rentable Square Feet across 988 units (982 interior and 6 drive-up units), offering significant operating leverage. • Market Leading Performance: In-place rent of $2.78/SF with year-over-year storage revenue growth of 2.75% in 2024 and 3.4% in 2025. • Exceptional Street Presence: Hilltop corner location provides commanding visibility from all approaches with 37,000+ cars passing daily. • Institutional-Quality Construction: Built in 2016, featuring a modern storefront, fully conditioned units, wide interior corridors, enhanced security, two elevators, and a spacious loading area. • High-Income Demographic: Bellevue is one of the wealthiest areas in Washington. The average household income is $218,751 within three miles of the property. • Located in Bellevue’s Path of Growth: The Bel-Red subarea and nearby Spring District are projected to add thousands of new jobs and housing units in the coming decade. • Market Strength: Low storage inventory of 6.85 SF/capita with no new supply in the pipeline, high entry barriers, and 7.1% YOY climate-controlled rent growth through November 2025. • Stabilized Asset With Upside: Proven ability to drive revenue growth with durable cash flow and operational upside; current physical occupancy by SF at 93%.
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Cushman and Wakefield Self-Storage Advisory Group
