For Sale

Highlights:

• The property is currently 90% economically occupied.  Physical occupancy is 93% bu units and 95% by NRSF.
• Current asking rents are substantially below market rates.
• Access is limited by a rollback gate that is open Tuesday-Sunday, 9am-5pm.
• The onsite-manager’s residence is currently vacant.
• No tenant insurance plan is offered.

Highlights:

• 134,009 of self-storage with an additional 20,085 square feet of strip retail.
• Occupancy was 91% at time of sale.
• Property services an affluent client base with asking rents below market ($1.68/SF).
• Pride-of-ownership facility, built in phases 1986, 1994 and 2005.
• Onsite manager’s unit and fully-secured units.

Highlights:

• Stable asset with upside through continued occupancy – approaching an 8% CAP on 90% economic occupancy.
• Larger units. On average, the typical unit exceeds 174 NRSF.
• Significant new housing units coming online with high tech employers nearby.
• Pride-of-ownership facility.
• Cell tower lease offers additional, ancillary income.
• Priced below replacement costs at $86.35 per NRSF.

Highlights:

• Stable, existing asset with upside through continued occupancy gains.
• Ancillary income sources. Car Wash brings in an additional $32,880 in income. Tenant protection plan is slated to generate roughly $25,000 annually.
• The five commercial suites offer diversity of investment as larger users seek business space in the submarket.
• History of appreciation. Five years ago, the gross potential income was $333,300/year. Today the gross income is $5462,680/ year – a 68.8% increase over 5 years.