Mustang Storage

Industrial for Sale
Sale Pending
Catylist Listing ID: 30643672
Property Subtypes: Self Storage
Status: Pending
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: 6.33%
Last Updated: 8/17/2021

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

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


Photograph of Listing Agent

Drew Gannon

NAI Martens KSCRE Member
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