Roberts Road Mini Storage
Self Storage | 5.41% CAP | 258 Units
Marketing description
Grandstone Investment Sales is pleased to exclusively present Roberts Road Mini Storage, a self-storage investment opportunity located in Island Lake, Illinois. The property consists of 258 non-climate-controlled units totaling 32,800 net rentable square feet on approximately 5.39 acres. The facility is currently operating at 93.75% physical occupancy and 87.31% economic occupancy, providing stable in-place cash flow with additional upside through rental rate optimization, ancillary income implementation, professional management, improved signage, and future expansion potential on the site.
Roberts Road Mini Storage presents investors with an attractive value-add opportunity in a supply-constrained self-storage submarket with no competing self-storage facilities within a one-mile radius. Additionally, the property includes excess frontage along Route 176, creating potential for improved signage and future expansion. Offered at $3,625,000, the investment provides a competitive basis relative to today's development environment within Chicago's Northwest suburban corridor.
Investment highlights
- Attractive Basis Purchase Price: $3,625,000 Price Per Rentable Square Foot: $110.52/SF Current Cap Rate: 5.41% Projected Year 1 Cap Rate: 7.10%
- No Competition Within 1 Mile: Roberts Road Mini Storage benefits from a highly insulated location with no competing self-storage facilities within a one-mile radius of the property.
- Strong In-Place Occupancy: The facility is currently operating at approximately 93.75% physical occupancy and 87.31% economic occupancy.
- Clear Operational Value-Add: Opportunity to increase revenue through rental rate optimization, tenant insurance implementation, administrative fees, and professional management.
- Rental Rate Upside: Nearby institutional and regional competitors are achieving materially higher rental rates across comparable unit types, supporting future revenue growth potential.
- Expansion & Signage Potential: The site includes additional land fronting Route 176, creating potential for improved signage and future expansion.
- Affluent Suburban Demographics: The five-mile trade area includes approximately 72,390 residents with average household incomes exceeding $136,000.
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