Description
Incredible Investment opportunity in recession resilient, self-storage industry. This stabilized asset has experienced growth consistently since the first buildings were constructed in 2002. Currently at 89.2% physical occupancy even after adding the newest building in 2022. This facility features nearly 61,000 sq. ft. under roof (see unit mix below), 5.8 acres of total acreage which includes 1+ acre of buildable ground for future expansion (at least one more 30x360). The facility contains 390 self-storage units ranging from 5x10 to 10x30. The construction allows for interior walls to be modified so operators can adjust unit sizes to market demands. The current operator rents 8 outdoor slips but has the ability to more than double this amount. Add tens of thousands of dollars to the bottom line by bringing all units up to market rent without adding expenses. Extrapolating current 2023 sales data indicated gross sales of ~$322,778.
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0BEDS
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5.8ACRES
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1BATHS
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01/2 BATHS
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440SQFT
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$7,943$/SQFT
Description
Incredible Investment opportunity in recession resilient, self-storage industry. This stabilized asset has experienced growth consistently since the first buildings were constructed in 2002. Currently at 89.2% physical occupancy even after adding the newest building in 2022. This facility features nearly 61,000 sq. ft. under roof (see unit mix below), 5.8 acres of total acreage which includes 1+ acre of buildable ground for future expansion (at least one more 30x360). The facility contains 390 self-storage units ranging from 5x10 to 10x30. The construction allows for interior walls to be modified so operators can adjust unit sizes to market demands. The current operator rents 8 outdoor slips but has the ability to more than double this amount. Add tens of thousands of dollars to the bottom line by bringing all units up to market rent without adding expenses. Extrapolating current 2023 sales data indicated gross sales of ~$322,778.
The data relating to real estate for sale on this website comes in part from the Broker Reciprocity™ program of the Multiple Listing Service of Greater Cincinnati. Real estate listings held by brokerage firms other than Draznik Group | Coldwell Banker are marked with the Broker Reciprocity™ logo (the small black house) and detailed information about them includes the name of the listing brokers. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Information is deemed reliable but is not guaranteed accurate by the MLS or Draznik Group | Coldwell Banker.
Data last updated 2023-12-03T22:13:28.633.