Listed by NAI Martens
$725,000
Salt City Storage
Details
APN 1392900001004010
Property Type Self Storage
Square Footage 13,440
Units 1
Occupancy 80%
Tenancy Multi
Lease Type Gross
Pro-Forma Cap Rate 9.15%
Year Built 1972
Year Renovated 2021, 2023, 2025
Buildings 7
Lot Size (SqFt) 47,519
Value-Add | 13,440 NRSF | 80% Occupancy
Marketing description
Hutchinson serves as the economic and cultural hub of Reno County (population ~61,000), supporting a diverse economy anchored by healthcare, manufacturing, agriculture, and education.
The city is home to Hutchinson Community College, driving seasonal and recurring storage demand from students and short-term housing turnover. Additionally, Hutchinson hosts the Kansas State Fair, which attracts over 300,000 annual visitors.
Strategically located in central Kansas, Hutchinson benefits from proximity to major regional hubs, including:
- Wichita (~45 miles) - the state's largest city and primary economic driver.
- Salina (~70 miles) - a key logistics corridor along I-70.
- Topeka (~110 miles) - the state capital.
Investment highlights
- 11 Net Positive Rentals in April 2026
- April Revenue Totaled $6,777.85
- Q1 Revenue Up 24% YoY
- Q1 Net Operating Income Up 153% YoY
- The current owners have transformed this property from a fully distressed asset with almost no occupancy to 80% occupancy, with a current monthly rent roll over $6,200. There is still significant runway to increase revenue to over $10,000+ per month, while reducing and normalizing controllable expenses, with a projected future valuation in the $975,000 range.
- Over $110,000 in capital expenditure has been completed over the past three years, including:
- Installation of 16 new REOLink cameras
- Expansion of the point-to-point internet system between buildings
- Repairs to 30 down units
- Installation of a remote access (PDK) system
- New signage, fencing, pavement resurfacing, and an automatic gate
- The current owners have been utilizing Google and Meta ads; there is an opportunity for a new owner to leverage SpareFoot and other rental advertising channels to fill the remaining units.
- Turnkey opportunity for a remote owner, with a local maintenance/"boots-on-the-ground" contractor already in place.
- Prime location adjacent to Creekside Village Manufactured Home Community (250+ pads), and just off Highway 50, offering excellent visibility with approximately 5,000 vehicles per day.
Listing Contacts
Listed by NAI Martens
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