The Cushman & Wakefield Self Storage Advisory Group is pleased to offer for sale SeaTac Self Storage, a well-maintained, 1990-vintage facility located in an established in-fill neighborhood within the dynamic Seattle MSA.

The Property totals 28,920 NRSF across 279 units, plus 52 parking spaces, a single-family rental home, a manager’s apartment and a small office suite. SeaTac Self Storage fronts Military Road S with over 16,000 vehicles passing daily, near the S 164th Street intersection featuring a Safeway, fuel, restaurants and coffee shops.

Physical occupancy is 92% (94% self-storage), with economic occupancy of 86%. In-place storage rents of $1.46/SF trail asking rents of $1.57/SF, and no tenant on the rent roll pays above asking, creating an ideal scenario to implement an aggressive ECRI strategy. Additionally, the Property has not adopted value-based pricing, and insurance penetration stands at just 53%, pointing to meaningful ancillary income upside.

SeaTac is approximately 13 miles south of downtown Seattle and 15 miles north of Tacoma. The Property sits in a residential and commercial pocket bordered by Seattle-Tacoma International Airport and International Boulevard to the west, I-5 to the east and State Route 518 to the north. The airport (52.7 million passengers annually) and the nearby SeaTac, Renton, Tukwila and Kent industrial submarkets (85.5 million SF)are major economic drivers, while Westfield Southcenter (1.6 million SF), the largest shopping mall in the Pacific Northwest, serves as the area’s primary retail hub.

The three-mile trade area is home to approximately 86,550 residents with average household income of $108,312. Storage supply totals 8.76 SF per capita, with no new supply in the development pipeline and steady population growth projected.

SeaTac Self Storage represents an opportunity to acquire an established in-fill asset within the Seattle MSA, offering solid in-place fundamentals and significant upside through ECRI implementation, ancillary income growth and institutional management practices.