Self-Storage Facility, NOW 98% Occupied! 5-ACRES Expansion Potential!

Industrial for Sale
Sale Pending
Also listed as Retail-Commercial
Catylist Listing ID: 30295025
Property Subtypes: Self Storage
Status: Pending
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
Last Updated: 10/7/2021

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 Confidentiality Agreement required for marketing package.

Attachments & Media

Additional Details

Nearest MSA: Louisville/Jefferson County
County: Jefferson
Taxing Authority: Jefferson County, KY
Tax ID/APN: 001301860000
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
Property Condition: Excellent
Year Built: 2018
Roof Type: Flat
Parking Type: Surface
Freight Elevators: 1

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 6,856 66,450 159,978
Median Age: 45.12 39.31 41.12
Households: 2,922 27,527 67,192


Photograph of Listing Agent

Amanda Helfrich

Homepage Realty KCREA Member
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