Class A Self-Storage
Squirrel AwayStorage
Executive Summary
Austin McLeod with Matthews™ has been exclusively hired to market for sale a high-quality, Class A self-storage facility that opened in September 2023 in Virginia Beach, VA.
This uniquely designed, modern facility is approaching stabilization as square foot occupancy just hit 87% and unit occupancy stands at 79%. The trade area features historically strong rental rates for climate-controlled units, as well as a highly affluent tenant base, with median household incomes exceeding $129,000 within a 1-mile radius and $121,000 within a 3-mile radius. Median home values are also very strong at over $656,000 in a 1-mile radius and $475,000 in a 3-mile radius. Multiple housing developments are currently underway in close proximity as well, further supporting near-term and long-term occupancy and rental rate growth.
The Virginia Beach MSA is also home to the largest active-duty military population in the U.S. at approximately 96,835 service members, with defense spending accounting for roughly 45.6% of regional GDP — a level of institutional economic support that insulates the market from cyclical downturns. This is evident at this location, as throughout the start of this year they have continued to perform well, leasing 97 net rentals year-to-date.
This opportunity is being offered on a Market Bid, Call-for-Offers basis. The Call for Offers date is set for Friday, June 19th, 2026. Please contact Austin McLeod to discuss pricing guidance and gain access to the full deal room.
Investment Highlights
High quality facility delivered in 2023 approaching stabilization
Extremely affluent surrounding population and tenant base - over $129k in median household incomes in a 1-mile radius and $121k in a 3-mile
Well positioned to capture demand from the residents living nearby
Multiple housing developments underway within close proximity
Historically strong rental rates for climate controlled units in this trade area
Median Home Values in a 1-mile radius above $656k and $475k in a 3-mile radius
Demographics
(3 & 5 Mile Radius)
1-Mile Median HH Income
3-Mile Median HH Income
1-Mile Avg HH Income
3-Mile Population (2025)
5-Mile Population (2025)
Virginia Beach MSA Population
Virginia Beach, VA · Hampton Roads
Virginia Beach sits at the eastern edge of Hampton Roads, combining a large coastal resident base with regional tourism, military demand, and steady household formation. Above-average household incomes, a high homeownership rate, and the largest active-duty military population in the U.S. create consistent, recession-resilient demand for self-storage.
Location & Access
- Located on Sandbridge Rd carrying ±13,964 vehicles per day.
- Princess Anne Rd corridor at ±10,961 VPD nearby.
- ±8 miles to the Virginia Beach Oceanfront and ±20 miles to Norfolk International Airport.
Trade Area
- Affluent Red Mill / Sandbridge submarket with median home values above $656k in a 1-mile and $475k in a 3-mile.
- Surrounding retail includes Red Mill Commons, Red Mill Walk, Sandbridge Commons and Three Oaks/Sandbridge Commons expansion.
- Nearby anchors include Walmart Supercenter, Target, Harris Teeter, Home Depot, Tractor Supply Co. and Food Lion.
Development Pipeline
- Ashville Park expansion and Princess Anne Commons growth area with up to ±600 homes eventually developed.
- White Oak Manor (KH Signature) — ±40 homes planned.
- Vanguard Landing — ±24 existing homes with ±37 additional planned, plus Munden Farms with ±90 homes.
Market & Demand Drivers
- Virginia Beach MSA is home to the largest active-duty military population in the U.S. (~96,835 service members).
- Defense spending accounts for ~45.6% of regional GDP, insulating the market from cyclical downturns.
- 97 net rentals leased year-to-date through May 31, 2026 — strong leasing momentum approaching stabilization.
Class A Self-Storage
Squirrel Away Storage
Exclusively Listed By
Austin McLeod
Senior Vice President · Director | Self-Storage
License No. 394903 (GA)
Broker of Record
Kyle Matthews
Broker Lic. No. 225225982 (VA) · Firm Lic. No. 226035518 (VA)