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31854204
31854205

1101 W Norris Dr, Ottawa, IL 61350

RC
IL IL 475.171700
Matthews
DL
IL 475.215486
Matthews
AB
IL 475211720
Matthews
Listed by Matthews
$2,700,000
41 days on market
Updated 41 days ago

Ottawa Route 6 Storage

Details
Property Type Self Storage
Square Footage 27,310
Units 224
Cap Rate 7.57%
NOI $174,406
Occupancy 78%
Tenancy Multi
Year Built 2000
Parking Spaces 51 spaces
Parking Per SqFt 1.87
Investment Type Stabilized

Self Storage | 7.57% CAP | 224 Units

Marketing description

Ottawa Route 6 Storage is a self storage investment opportunity located at 1101 W Norris Dr in Ottawa, IL 61350. This facility features 224 total units comprising 173 non-climate controlled storage units and 51 parking spaces across approximately 27,310 square feet. Built in 2000, the property offers a wide variety of unit sizes and is fully secured with an automated entry gate. The facility includes an on-site manager's office and apartment, providing operational oversight and convenience.

The property is strategically positioned right on US Highway 6, offering excellent visibility and easy access for customers. Located just 15 minutes from the popular Starved Rock State Park, the facility benefits from both residential and seasonal recreational storage demand. With current physical occupancy at 78% and a 7.57% Year 1 cap rate based on a $2,700,000 list price, this asset presents a value-add opportunity with room to increase occupancy and optimize rental rates. The property also offers potential for future expansion with additional self-storage units, enclosed boat & RV bays, or contractor units.

Investment highlights

  • Opportunity to add additional self-storage, enclosed Boat & RV bays or Contractor Units
  • Great location right on US HWY 6 with easy access
  • Only a 15 minute drive from Starved Rock State Park
  • Fully secured with automated entry gate
  • Wide variety of unit sizes
  • On-site managers office and apartment
  • 173 storage units and 51 parking spaces

Listing Contacts

RC
IL IL 475.171700
Matthews
DL
IL 475.215486
Matthews
AB
IL 475211720
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$174,406.00
$14,533.83/mo

Valuation Metrics

0
DSCR
6.46%
Cap Rate
6.46%
ROI

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Additional Information

Name
Matthew Fitzgerald
License
471021676, 478027547
Title
Broker of Record
Name
Rob Cook
License
IL 475.171700
Name
Don Larkin
License
475.215486
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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