The Cushman & Wakefield Self Storage Advisory Group has been exclusively retained to offer for sale Space Shop Self Storage in Rochester, NY.

This offering presents a rare opportunity to acquire a high-quality self storage project in the growing Rochester, NY market. Originally constructed in 1995 and converted to self storage in 2020, the property offers approximately 79,215 rentable square feet across a well-diversified mix of climate-controlled, non-climate, and drive-up units. This multi-story facility benefits from strong demographic fundamentals, including a population of nearly 44,000 people within a 3-mile radius and a median household income of $61,236. With strong occupancies on the majority of unit types and favorable market rents, this asset is well positioned to grow rents at an accelerated rate over the next few years.

As of May 2025, the facility was 90.5% occupied with in-place rents of $16.70. From May 2024 to May 2025, the store leased an additional 4.1% of space while marginally increasing the effective rents. Market rents in the trade area are very strong, averaging just over $24.00 annually. The store has noticeably strong occupancy and rents on units less than 100 SF and over 250 SF. There is an opportunity to make changes to the unit mix on select unit types (e.g., CC Elevator Access – 10x12.5) to optimize for better occupancies and rents. The delta between in-place rents and market, as well as the opportunity to optimize the unit mix, give this nearly physically stabilized asset a value-add profile.

The property is located in the City of Rochester, a key urban center within the Rochester Metropolitan Statistical Area (MSA), home to over one million residents. Rochester is a historically significant and economically diverse city in Monroe County, strategically positioned near major transportation corridors including Interstate 390, Interstate 490, and the New York State Thruway (I-90), providing excellent regional connectivity. Within a 3-mile trade area, the population exceeds 44,000 residents, with steady growth projected through 2030. The area benefits from a strong employment base, anchored by major institutions such as the University of Rochester, Rochester Institute of Technology, and several regional healthcare systems. While not experiencing the explosive growth of Sunbelt markets, Rochester is undergoing a measured urban revitalization, with new residential and mixed-use developments emerging in neighborhoods like College Town, South Wedge, and Henrietta. These projects are contributing to a more vibrant, walkable, and livable urban environment, enhancing the long-term demand for self storage in the area.