Self-Storage Value Add Investment

Industrial for Sale
Catylist Listing ID: 30643672
Property Subtypes: Self Storage
Building Size (RSF): 136,696 SF
Sale Price: $2,500,000
Unit Price: $18.29 PSF
Property Use Type: Investment
Sale Terms: Cash to Seller
Cap Rate: Undisclosed
Last Updated: 11/30/2020

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 56% 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.​​

- 10%+ Cap Rate - Pro-Forma
- 413 Total Units
- 176 - "Shop Units"
- 169 - Standard Self Storage
- 15 - Warehouse
- 53 - Parking Spaces

Full financials available upon request.

Attachments & Media

Additional Details

Nearest MSA: McPherson
County: McPherson
Tax ID/APN: 0591382701001001030

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 5,426 12,872 13,640
Median Age: 44.3 39.77 39.85
Households: 2,378 5,383 5,703

Contact

Photograph of Listing Agent

Drew Gannon

NAI Martens KSCRE Member
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