River Park
River Park
River Park
River Park
River Park
River Park
River Park
River Park
River Park
River Park
River Park-Five Lots
River Park-Five Lots
River Park
River Park
River Park
River Park
River Park
River Park-Five Lots

Self Storage Details

  • Purchase Method: Cash, New Loan
  • Number of Storage Units: 165
  • Acreage: 4 acre(s)
  • Square Footage: 27,000 sqft
  • Occupancy: 96%
  • Cap Rate: 6.3%
  • Listing ID: 704983
  • Posted On: Sep 14, 2016
  • Updated On: Nov 21, 2017

Description

The property is just off of Highway 93 and fronts on Highway 269. Highway 269, also known as the Stevensville Cut-Off Road, is the main connector between Stevensville from Highway 93. The property, River Park Storage, has 8 free standing buildings built between 1977 and 1992. There are 165 indoor units, not including additional outdoor 10x30 spaces, and a two bedroom managers unit. Situated on approximately 3.47 acres and consisting of five parcels, there is plenty of vacant land at the site which could be used for possible future development. The indoor units range in size from 6x6 to 10x30 and are currently 96% occupied. Stevensville known as "where Montana began" was the first permanent settlement in the state. This area located approximately half way between Missoula and Hamilton in the western portion of Montana, is known for it spectacular scenery with fishing, hiking, biking and walking trails. A strip shopping center, the largest between those two cities, is located across the street from the property. Public access to the Bitterroot River recreation area is 100 yards away.

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Financial Information (Actual)

Gross Income: $116
Operating Expense: $57
Net Operating Income: $59
Expense Ratio: 49.1 %