Ottawa Route 6 Storage
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
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