Profitable Storage Units For Sale

Industrial for Sale
Catylist Listing ID: 30632956
Property Subtypes: Self Storage
Building Size (RSF): 16,900 SF
Gross Building Area: See Agent
Gross Land Area: 4.56 Acres
Sale Price: $1,250,000
Unit Price: $73.96 PSF
In Opportunity Zone? Yes
Property Use Type: Investment
Usable Size (USF): 198,372 SF
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Average Occupancy Rate: 90
Last Updated: 11/19/2020

Overview / Comments

4.55 acres of storage! 6 buildings, 2 One-Acre lots.
175 units
34 outdoor lots

The existing development consists of 6 self-storage buildings with onsite office space with gated security and the improvements are of class "S" steel frame construction with a one-story design. There is a total of 175 storage units containing a total gross building area of 24,310 sf. These are not temperature controlled units. Various sized units with movable walls. There are also 34-36 onsite, open and uncovered parking spots. Total land is 4.55 acres. The price is based upon the most recent appraisal. Very low monthly maintenance. Per the information provided by the Seller, they pay approx. $25/month for water. Around $75/month for landscaping. Electric ranges from $65-$150/month depending on weather. They currently have a lady that works in the office from 10-4 and they pay her $19,000/year. (This can easily be changed out to a kiosk). The Seller is retiring.

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Bullitt
Tax ID/APN: 034-SE0-16-029
Zoning: IG - General and Extractive Industrial
Area Description: Upside occupancy and rental growth. Opportunity for additional rental income. Minutes from Louisville International Airport, UPS and I-65.
Tenancy: Multiple Tenants
Total Number of Buildings: 6
Number of Stories: 1
Property Condition: Good
Construction/Siding: Aluminum Siding
Parking Type: Surface
Sprinklers: None

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 4,247 29,135 97,007
Median Age: 38.66 37.94 37.21
Households: 1,625 11,001 37,198

Contact

Photograph of Listing Agent

Latonia Isenberg

Semonin REALTORS KCREA Member
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