Listed by Franklin Street Tampa
$1,150,000
Lincoln Road Storage
Details
APN 1110027275, 0100016821, 1110002150
Property Type Self Storage
Sub Type 1
Net Rentable (SqFt) 21,260
Units 176
Cap Rate 7.77%
NOI $103,212
Pro-Forma Cap Rate 10.20%
Pro-Forma NOI $122,428
Price per SqFt $56
Year Built 2010
Buildings 9
Stories 1
Acreage 1.640
Self Storage | 176 Units | 21,260 NRSF | Two Locations | Expansion Room
Investment highlights
- Stabilized and Cash-Flowing Self Storage Facilities Comprised of 12 Climate-Control Units Totaling 1,560 NRSF and 164 Non-Climate Units Totaling 19,700 NRSF Spread Across Two Locations
- Very Limited Competition in the Immediate Trade Area Evidenced by a Market Saturation Rate of 2.5 SF/Capita Within Three Miles of the Lincoln Road Location
- Opportunity to Increase Revenue Through Existing Customer Rent Increases and the Implementation of Tenant Insurance Sales
- The Lincoln Road Location Sits on a 1.17-Acre Lot With Room for Expansion or the Addition of Outdoor Parking Rentals
- Facility is an Excellent Candidate for Remote Management With High Occupancy, Security Cameras, and Management Software Already in Place
- Recent Cap/Ex Improvements Include Multiple Door Replacements at the Lincoln Road Location, Spring & Latch Replacements at Both Locations, and the Addition of a Gravel Parking Area at the Lincoln Road Location
- Ville Platte is Located in Southern Louisiana, approximately 65 Miles West of Baton Rouge and is the County Seat of Evangeline Parish, which is Home to 31,754 Residents
Listing Contacts
Listed by Franklin Street Tampa
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$103,212.00
$8,601.00/mo
Valuation Metrics
0
DSCR
8.97%
Cap Rate
8.97%
ROI
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