Featured Listings
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SELF STORAGE |
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Fort Knox Self Storage Portfolio Listing Agents: Kevin Menendez, Michael Mele |
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This offering is comprised of three quality self-storage assets located in the Tri-State Area of Pennsylvania, New York, and New Jersey. The three properties are conveniently located less than 10 minutes from each other in Port Jervis, New York; Matamoras, Pennsylvania; and Montague, New Jersey. The Port Jervis and Matamoras locations are about one mile from one another, which provides an investor the opportunity to improve returns through management efficiencies between the two locations. The portfolio totals 60,342 rentable square feet. It consists of 618 units, of which 394 are climate-controlled and 191 are non-climate-controlled. There are 33 parking spaces. All the facilities have key pad access and are monitored by video surveillance, ensuring secure storage at all locations. The portfolio also includes a car wash adjacent to the annex drive-up units at the Port Jervis location. |
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Storage Station Portfolio Listing Agents: Trey Hammond, Michael Mele |
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The Storage Station portfolio is comprised of six quality self-storage assets located in Tulsa, Oklahoma. Each of the properties are located less than 10 minutes from one another, and the Brookside and Midtown locations are about two miles from one another. The close proximities of each facility provides an investor with an opportunity to enhance returns through management efficiencies between the locations. The portfolio contains 283,636 net rentable square feet with 2,270 units total across 63 buildings. There are 355 climate controlled units, 1,754 non-climate-controlled units and 161 parking spaces. There is a potential for expansion at the Downtown, Sheridan and Yale locations of 11,000; 4,805 and 12,080 square feet, respectively, which would provide a significant value add opportunity for a new owner by increasing the portfolio size an additional 9.8 percent. |
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Laburnum Racetrack Self Storage Listing Agents: Bobby Bloch, Michael Mele |
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Laburnum Racetrack Self Storage represents a rare opportunity to secure a Class A, institutional-quality asset located on a highly trafficked thoroughfare in the desirable Richmond, Virginia market. Population density is 83,659 within a three-mile radius and 213,446 within a five-mile radius, while traffic counts on East Laburnum Avenue at the facility amount to 26,000 vehicles per day. The facility was constructed in stages between 2006 and 2015, and has been meticulously maintained by the original owner/developer. The most recent addition was completed in July of 2015 and consists of 22,000 net rentable square feet of climate-controlled and standard storage, bringing the total rentable square feet of space to 97,470. There are 370 standard drive up units and 400 climate-controlled units for a total of 770. Laburnum Racetrack Self Storage is currently 80 percent occupied, down from 95 percent before the recent expansion. The just-completed 22,000 square feet of space represents significant upside in occupancy and has just been granted a certificate of occupancy in late July. |
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Antioch Storage Listing Agents: Sean Delany, Michael Mele |
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This offering represents a great opportunity to invest in a cash-flowing self-storage facility in the desirable Chicago MSA. This offering includes the sale of an 8-building facility that contains 29,370 net rentable square feet and vacant land with the potential for expansion. There are currently 360 non-climate-controlled storage units and the units range in size from 25 square feet to 300 square feet. This facility also has 115 rentable parking spaces to accommodate RV, boat, and vehicle storage. The facility was constructed in 1984 and expanded in 1992 and 2014. All buildings are one story and were built with solid concrete and metal. The facility has excellent visibility to Main Street and is approximately 8.8 miles west of Interstate 94. The facility is located in a rapidly growing area of the Chicago MSA. The population has increased by 26.35 percent since 2000. The facility is currently 94 percent physically occupied and economic occupancy is at 79 percent, therefore supporting the need for an expansion in this fast-growing market. In the short term there is potential to increase revenue through increasing rental rates. This offering will provide a pro forma capitalization rate of a 10.47 percent with a 6 percent rental rate increase for each year after 2 years with an economic vacancy of 15 percent. |
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Seminole Self Storage Listing Agents: Luke Elliott, Michael Mele |
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This offering is a fully stabilized self-storage facility located in Zephyrhills, Florida. This offering contains 306 storage units and 5 office suites for a total of 55,225 net rentable square feet. The property was built in 1982 and expanded in 1987, and sits on a 3.49-acre lot. It has 9 storage buildings with units that range from 25 to 400 square feet. Included in the sale are five office suites that range from 600 to 800 square feet. The property has two locations, a primary location and an annex location. Immediately surrounding the property are recognizable national retailers such as Walgreens, CVS, Dunkin Donuts, and Pizza Hut, among many others. In addition, there are also numerous residential neighborhoods nearby. The facility currently has a physical occupancy of 94.61 percent while only an economic occupancy of 78.5 percent. In addition to reducing concessions and increasing management efficiencies, a new investor could see substantial income through a modest increase in rental rates to market averages. A rental rate increase and other management efficiencies would give a buyer the opportunity to realize a pro forma capitalization rate of 9.30 percent. |
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Surelock Self Storage Listing Agents: Luke Elliott, Michael Mele |
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Surelock Self Storage represents a great opportunity to invest in a cash flowing state-of-the-art facility in a high-density location on a main thoroughfare with excellent accessibility and excellent demographics. This offering includes the sale of a self-storage facility that contains 61,000 net rentable square feet and two pad-ready sites. Each pad site can accommodate a building up to 23,000 square feet and is 46,000 square feet in size. There are currently 402 non-climate-controlled units and 120 climate-controlled units. The units range in size from 25 to 350 square feet. Surelock Self Storage is located at 7628 Narcoossee Road in Orlando, Florida. The property sits on 7.31 acres and is only 1.6 miles north of FL-528. Narcoossee Road has traffic counts of over 27,700 vehicles per day. In 2014, Florida was ranked as the top tax environment in the east to do business and Orlando was ranked #1 in the nation for job growth. According to the 2015 demographic report, the population within a five-mile radius of the subject property was 127,733 and the average household income was $66,331. Surelock Self Storage is currently 97 percent physically occupied. This is an excellent opportunity for an investor to purchase a state-of-the-art quality self-storage asset in a high-density community where immediate upside in revenue may be realized by increasing rental rates through management efficiencies. Surelock Self Storage can provide a leveraged five-year internal rate of return of 16.43 percent and ten-year internal rate of return of 19.29 percent. |
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