Listed by Matthews
$1,250,000
Storage Park – Monticello, KY
Details
APN M3-18-001.00
Property Type Self Storage
Sub Type Self Storage
Square Footage 26,642
Units 228
Occupancy 85%
Tenancy Multi
Price per SqFt $47
Year Built 1955
Year Renovated 2023
Buildings 1
Stories 1
Acreage 1.150
Investment Type Value Add
Well-Located Self-Storage Investment Serving the Monticello, KY Market
Investment highlights
- Low supply within 5 miles of the facility – only 7.74 square feet per capita and 1 climate-controlled competitor within 20 miles of the facility
- 6.31% going-in cap rate with stabilized returns projected in the 11% - 14%+ range
- Upside in economic occupancy at 64% currently
- Very high returns upon economic stabilization
- Recently converted facility now 81% occupied
- Very attractive basis for an all climate-controlled facility
Listing Contacts
Listed by Matthews
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