Fully Automated Lexington Self Storage Facility For Sale

Industrial for Sale
Sale Pending/Contingent
Catylist Listing ID: 30572721
Property Subtypes: Self Storage
Status: Pending/Contingent
Building Size (RSF): 15,694 SF
Gross Building Area: See Agent
Sale Price: $1,750,000
Unit Price: $111.51 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 3/18/2020

Overview / Comments

We are pleased to present this rare fully automated self-storage complex located at 519 Robertson Street Lexington, KY 40508 “Lex Stor.” The Lex Stor facility is comprised of 135 total units with unit breakdowns that can be seen below. Since acquiring the property in 2014 the current ownership has taken steps to not only renovate, but to also automate its every function. The following improvements have been completed: new standing-seam metal roof, new roll up doors, newly constructed stand-alone management office, security cameras, outdoor lighting, freshly painted Kentucky mural, automated gate, as well as an open tech insomniac automated kiosk for new storage rentals. Current occupancy hovers around 98% with strong historical occupancy. Rental rate increases taking effect Q1 of 2020.

Highlights:
98.7% occupancy
Below market rents
New standing seam metal roof with warranty
Freshly painted with Kentucky mural
Newly built stand alone management office
Automated outdoor lighting and cameras with synchronized gate
Site link automated
Open tech - Insomniac Kiosk

Additional Details

Nearest MSA: Lexington-Fayette
County: Fayette
Tax ID/APN: 19302190
Zoning: B-4
Property Located Between: Robertson St & Versailles Rd
Area Description: Lexington, Kentucky has been rated as one of America's premier cities by some of the most noted and revered industry standard-bearers, such as Forbes magazine, the U.S. Census Bureau, Cognetics consulting group, Dun & Bradstreet, Ladies Home Journal, and Places Rated Almanac - just to name a few. Most people think of rolling countryside with stone fences, great basketball action, horse farms, Thoroughbred racing at Keeneland, a diverse economy, and outstanding schools, colleges and universities. Our community ranks high in quality of life factors, such as health care, public safety, educational attainment, and quality family living. The area also measures high among the best places for business location, creativity, entrepreneurial growth, and career relocation. Residents of competing cities view Lexington as a beautiful place, with great schools, an innovative health care system, a strong economy, and mountains of potential.
Tenancy: Multiple Tenants
Property Condition: Good
Year Built: 1993
Zoning Description: B-4

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 16,271 121,614 222,485
Median Age: 27 34.65 35.52
Households: 6,722 50,133 94,616
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