For Sale

Highlights:

• Upside in rents as the subject property has some of the lowest asking rents in the area
• Historically high occupancy (97%+)
• Ground level access to all units – the interior units do not require stairs or an elevator
• The owners have implemented a rent increase on 08/01/23 which increased scheduled rents 14% (from $93,469 a month to $106,524 a month)
• No tenant insurance program in place

Highlights:

• Pride-of-ownership facility – impeccably maintained and operated by the seller
• Historically high occupancy (95%+)
• Average storage unit size exceeds 383 NRSF; property also features over 80K NRSF of covered boat & RV parking
• Surrounded by new development – in addition to numerous new homes, LG is building a $2.88B 1,000,000 SF manufacturing plant within 6 miles

Highlights:

• The property is currently 96% occupied. The metal storage units are 100% occupied and the average metal storage unit size exceeds 135 NRSF. The exterior wood lockers are 89% occupied and the interior wood lockers are 77% occupied
• Attractive unit mix and layout. The property offers a wide range of storage options from 5x8s to 10×40. There are also portable, wooden units (5x8s) which are stacked two high and two deep in one half of the warehouse building. The property also features interior parking
  for boats and RVs
• The property currently does not have a tenant insurance program and the current asking rents are below market rates
• Flexible site. Wooden 5x8s also line the exterior of the warehouse building (143 units). These units could be replaced by permanent, metal buildings which may command higher rents. The 5x8s located inside the warehouse buildings (224 units) could also be replaced with metal units which would provide for greater ease of management by eliminating the need for a forklift operator used to stack the portable units

Highlights:

• Existing site sits on 11.77 acres
• There are an additional 15 acres zoned M1 which would allow for expansion
• Property is on one parcel
• The expansion land is priced at $2.6M or $$3.98/SF.  The additional land must  be purchased with the existing asset making the aggregate price $8M
• Indoor parking helps meet the needs of recreators who want timely access to their vehicles

Highlights:

• Upside in rents as the subject property has the lowest asking rents in the submarket
• Historically high occupancy (97%+)
• All units feature drive-up access
• Property generates roughly $3,000 per month in U-Haul commissions and presently is not collecting tenant insurance
• Seller is replacing the siding, trim and roofs on the first phase of the property

Highlights:

• Upside in rents as the subject property has the lowest asking rents in the submarket
• 2-property portfolio with 1.6 miles between the properties
• All units feature drive-up access
• Both sites have manager’s units
• Rents have not been raised since 2022
• The properties do not have a website, nor traditional self-storage management software
• No tenant insurance is offered