Morning Star Park (In Contract)
Listing #: 2209
Elverta, CA
NRSF: 172,498
Offering Price: $8,000,000
No. Units: 524
Highlights:
- Existing site sits on 11.77 acres. There is an additional 15 acres zoned M1 which would allow for expansion. Property is on one parcel.
- The expansion land is priced at $2,600,000 or $3.98/SF. The additional land must be purchased with the existing asset making the aggregate price $8,000,000.
- Indoor parking helps meet the needs of recreators who want access to their vehicles at their convenience.
EZ Storage Depot (Closed 09/14/23)
Listing #: 2307
Visalia, CA
NRSF: 72,673
Offering Price: $7,861,600
No. Units: 745
Highlights:
- Current occupancy is 96%. The metal storage units are 100% occupied and the average unit size exceeds 135 NRSF. The exterior wood lockers are 89% occupied and the interior wood lockers are 77% occupied.
- Upside through operations. The property currently does not have a tenant insurance program and the current asking rents are below market rates.
- Wooden 5x8s outside (143 units) and inside (224 units) could 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.
Garden Highway Self Storage (Closed 04/29/24)
Listing #: 2312
Yuba City, CA
NRSF: 46,875
Offering Price: $5,600,000
No. Units: 438
Highlights:
- The property is currently 87% occupied. The drive-up storage units are 90% occupied and the parking spaces are 70% occupied.
- Attractive unit mix and layout. The property offers a wide range of storage options from 5×5 to 20×40. The drive isles are ample and secured access and surveillance assures customers of a secure environment for their belongings.
- The onsite-manager’s residence is currently vacant.
Mr. Storage 1 & 2 (Closed 12/15/23)
Listing #: 2205
Oceano & Grover Beach, CA
NRSF: 17,470
Offering Price: $2,100,000
No. Units: 206
Highlights:
- Upside in rents as the subject property has some of the lowest rents in the submarket.
- 2-property portfolio with 1.6 miles between the properties.
- 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.
Powerline Mini Storage (Closed 02/29/24)
Listing #: 2302
Olivehurst, CA
NRSF: 26,600
Offering Price: $1,900,000
No. Units: 302
Highlights:
- All-metal construction.
- Upside through operations. The property currently does not have a tenant insurance program and the current asking rents are roughly half of the current market rates.
- Ample room for expansion. The property sits on 3.91 acres with only 26,600 NRSF constructed. The new owner could significantly expand the property to increase density and revenue.
