Self Storage Details

  • Purchase Method: Cash, New Loan
  • Number of Storage Units: 164
  • Acreage: 3 acre(s)
  • Square Footage: 31,001 sqft
  • Occupancy: 74%
  • Year Built: 1990
  • Cap Rate: 10.7%
  • Property ID: 1429827
  • Posted On: Apr 28, 2021
  • Updated On: May 29, 2021

Property Description

The Storage Spot is a self storage facility in fast growing Livingston Parish, Louisiana. It currently has 31,001 of rentable square footage and sits on approx. on 2.5 acres. It has a combination of mini storage as well as a newly completed RV & Boat Storage. The breakdown is as follows:
5x5 - 9
5x10- 16
10x10- 49
10x15- 28
10x20- 36
12x40 - 25 RV & Boat Storage

Facility has an office with a 2 bedroom apartment attached. The entire property has been remodeled over the last five years that includes new fencing, office, new camera surveillance system, entire facility repainted, the roofs resealed, entire back lot cleared and leveled for parking. It also has a 24 hour access key pad access.

The property has over 350 feet of Highway frontage along Florida Blvd, HWY 190. There are many new subdivisions, and businesses moving to the area as Livingston Parish is in the top 10 school districts in Louisiana. An additional advantage to this property is that the storage units did NOT flood in the Great Flood of 2016! All new drainage had been installed and flows nicely!

We are offering this facility at less than $36 per square foot. With land to expand it's an incredible investment opportunity in a growing and sought after area!

Contact Tom Theriot @ (702) 280-0622

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Financial Information (Actual)

Gross Income $93,500
Operating Expense $35,000
Net Operating Income $58,500
Expense Ratio 37.4 %
Debt Info