Catylist ID: #30643672
Industrial for Sale
|Catylist Listing ID:||30643672|
|Property Subtypes:||Self Storage|
|Building Size (RSF):||136,696 SF|
|Unit Price:||$18.29 PSF|
|Property Use Type:||Investment|
|Sale Terms:||Cash to Seller|
Overview / Comments
Mustang Storage, located in McPherson, KS, presents the right investor with a tremendous value add opportunity. The 136,696 SF, 413 Unit facility is made up of traditional self-storage, “shop” space (automotive storage and workspace), warehouse, and indoor and outdoor parking. The property is located adjacent to McPherson College, which has an Automotive Restoration Program that takes advantage of the “Shop” space and the facility being located across the street.
The facility is currently 69% occupied and a new owner could significantly increase Net Operating Income by increasing occupancy without pushing in-place rents. By implementing an effective marketing plan and putting an on-site manager/sales office at the facility will result in greater occupancy and therefore increased income.
Strong existing customer base with McPherson College and its students, as well as Mustang Communities (located directly to the North), a 300+ Site mobile home park.
- T-12 NOI: $158,199 - 6.33% CAP Rate
- Stabilized in Year 3 with NOI of $260,408
- 413 Total Units
- 183 - "Shop Units"
- 168 - Standard Self Storage
- 9 - Warehouse
- 53 - Parking Spaces
Full financials available upon request.
Attachments & Media
|Finance Data Year||2020|
|Net Operating Income||$158,199 (Annual)|
|Actual or Proforma Year||Actual|
|Proximity:||1 mile||3 miles||5 miles|
Drew GannonNAI Martens KSCRE Member
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