2 Locations

A A Storage offers a well-positioned self-storage facility in Michigan City, IN, with strong market fundamentals and excellent value-add potential. Located at 2205 Ohio St & 400 Arthur Street, the facility encompasses 50,300 net rentable square feet (NRSF) with a total of 417 self-storage units. Built originally in 1991 and expanded between 1995 and 2018, the facility is currently operating at 75% physical area occupancy and 70% economic occupancy, presenting significant potential for immediate revenue growth. The surrounding 5-mile radius boasts a population of nearly 42,000 residents with a median household income of $59,905, providing a steady local consumer base for household and commercial storage solutions. The facility benefits from its proximity to West Garfield Street, a local traffic corridor that sees 4,175 vehicles per day, ensuring consistent visibility. With no newly planned future development in the immediate surrounding market, the facility is well-insulated to capture existing community demand without the immediate threat of new supply saturating the area. The operational conditions at A A Storage present a compelling case for a new operator. Currently functioning as a mature, mom-and-pop managed property with minimal traditional advertising, there is immediate operational upside. By implementing a modern marketing strategy—such as advertising on Google— and hiring a dedicated on-site manager, a new owner can drastically improve lease-up velocity. Furthermore, there is a clear path to achieve a stabilized asking rate of $0.95 (up from the current $0.83), representing a 14.8% rate growth and the potential to grow Gross Potential Rent (GPR) by 15% in the first year of stabilization.