Listed by Evan DeCiantis
$275,000
Northern Secure Storage
Details
Property Type Self Storage
Sub Type Self Storage
Square Footage 4,650
Units 39
Cap Rate 1.69%
NOI $4,640
Occupancy 69.2%
Tenancy Multi
Pro-Forma Cap Rate 8.23%
Pro-Forma NOI $22,619
Year Built 2021
Buildings 3
Acreage 1.035
Investment Type Value Add
Self Storage | 39 Units | Room to Expand
Marketing description
Northern Secure Storage is a newly built self-storage facility constructed in 2021, offering 39 units across 4,650 square feet on 1.035 acres in Lake City, Michigan. The property is currently 69.2% occupied with significant room to expand and management upside to improve online presence and marketing. Located in a busy vacation town surrounded by lakes, this facility presents a strong value-add opportunity for investors looking to stabilize occupancy and maximize returns.
Investment highlights
- Newly built in 2021
- Room to expand
- Management upside to improve online presence and marketing
- Busy vacation town surrounded by lakes
Listing Contacts
Listed by Evan DeCiantis
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$4,640.00
$386.67/mo
Valuation Metrics
0
DSCR
1.69%
Cap Rate
1.69%
ROI
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