Catylist ID: #30295025
Self-Storage Facility, NOW 98% Occupied! 5-ACRES Expansion Potential!
Industrial for Sale
Sale Pending/ContingentAlso listed as Retail-Commercial
|Catylist Listing ID:||30295025|
|Property Subtypes:||Self Storage|
|Building Size (RSF):||35,239 SF|
|Gross Building Area:||48,296 SF|
|Gross Land Area:||1.21 - 6.21 Acres|
|Sale Price:||$6,400,000 - 7,200,000|
|Unit Price:||$181.62 - 204.32 PSF|
|Office SF:||750 SF|
|Property Use Type:||Investment|
|Building Name:||River City Self-Storage|
|Sale Terms:||Cash to Seller|
Overview / Comments
Class A self-storage facility now 98% occupied. Has the possibility for expansion to include another 53,000 or more SF of net rentable area on ADJACENT 5 ACRES, will sell fully ENTITLED with plans by Trachte! At completion could have total of 85,000 SF or more! Major upside with below market rents AND expansion potential. CALL for more details!
River City Self Storage is one of Louisville's first, multi-story, 100% climate-controlled, Class A facilities. Located in the east end of Jefferson County, with proximity to the Gene Snyder and is conveniently situated along the Westport Road commercial corridor. The facility is a recent conversion project, built out brand new with Janus International doors and components.
The facility leased up beautifully in a market area exhibiting very high storage demand and has been stable at over 85% physical occupancy since Spring 2020. Occupancy continues to increase and is now 98%+. Stabilized rents estimated at $1.40 per SF OR MORE! Many "proposed projects" in the market have stalled or been abandoned, meaning increased demand for this property to fill up and increase rents.
The facility features 334 storage units on two floors with 35,239 square feet of net rentable area. (Expansion plan available with additional 10,000 SF NRA). There are an additional 10 rentable parking spaces onsite. Other features include 2nd floor lift access, expansive and convenient loading area, ample parking, LED lighting with energy saving motion sensors, state of the art security with video surveillance, and an onsite office and retail store.
All inquiries to be directed to Amanda Helfrich at 502-807-7319 or firstname.lastname@example.org. Confidentiality Agreement required for marketing package.
Attachments & Media
|Nearest MSA:||Louisville/Jefferson County|
|Taxing Authority:||Jefferson County, KY|
|Zoning:||C-2 - Commercial District|
|Site Description:||The site is rectangular in shape and the topography is relatively level and at road grade.|
|Area Description:||The property is located in northeastern Jefferson County, just west of the Gene Snyder and south of Westport Road. The property has direct access and frontage on Freys Hill Road with some visibility and exposure from Westport Road. Cross access easements are in place allowing additional access from adjacent retail properties. Surrounding land uses include retail or commercial to the north, west and east and residential to the south. E.P. Tom Sawyer Park is located just south of the subject. The Springhurst Shopping Center is located nearly across the street offering major retail centers for the area including Target, Meijer, TJ Maxx, Home Goods. Other retail in area consists of a Home Depot located across the street and a Party City and Pet Smart located right next door. The property has proximity to multiple new and planned apartment developments as well as a new hotel at Westport Road and the Gene Snyder. The Ford Truck Plant is located just east of the subject, which is one of the city's primary employers. The general area supports significant retail and apartment development.|
|Total Number of Buildings:||1|
|Number of Stories:||2|
|Proximity:||1 mile||3 miles||5 miles|
Amanda HelfrichHomepage Realty KCREA Member
Brian A ThienemanThieneman Management Group KCREA Member
|© Copyright 2001-2020 Catylist. All Rights Reserved. The information presented herein is provided as is, without warranty of any kind. Neither Kentucky Commercial Real Estate Alliance nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions.|