106 Franklin St - Warehouse FOR SALE


Westfield, IL 62474
$300,000 USD
217-202-0924
106 Franklin St, Westfield, IL for Sale
$300,000 USD
Warehouse - FOR SALE
1/15
null | Request Cap Rate

106 Franklin St
Westfield, IL 62474


HIGHLIGHTS

  • Facility only three years old!
  • Value-add facility!
  • Room for expansion!

OVERVIEW

This mini-storage complex, newly constructed in 2021, offers an excellent opportunity for investors seeking a turnkey property with significant value-add potential. Located on a highly visible 1.61-acre parcel, the property combines modern construction with room for future expansion to maximize returns. •Modern Construction: Built in 2021, the facility features 40 drive-up units, each measuring 10 x 15, with durable Trac Rite roll-up doors. •Prime Location: Positioned on the busiest street in town, the property boasts frontage on all four sides of the parcel, providing unmatched visibility and accessibility. •Room for Expansion: With 1.61 acres, the site offers ample space to add more units or introduce boat and RV parking to capitalize on unmet demand in the area. •Utilities and Features: Utilities are adjacent to the site, allowing for easy upgrades or future development. The current configuration is non-climate controlled with no docks, ensuring low operating costs. •Marketing Upside: Despite being a newly constructed facility, the property has not been aggressively marketed since the current owner acquired it from a family member. A targeted marketing strategy could significantly boost occupancy and revenue. •Operational Improvements: There are no security cameras, fencing, or operating software in place, providing an opportunity to enhance the tenant experience and security while commanding higher rental rates. •Expansion Options: The large parcel size accommodates the addition of more units or premium offerings such as boat and RV parking, which would diversify income streams. With its strategic location on the town’s busiest street and strong curb appeal, this property is well-positioned to attract residential and commercial storage tenants. The lack of direct competition in the immediate area further underscores the property’s potential for sustained growth.

FOR SALE DETAILS

PRICE

$300,000 USD

PRICE/SF

$50 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

Single

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Westfield Storage

PROPERTY TYPE

Industrial

PROPERTY SUBTYPE

Warehouse

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2021

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.61

LAND SF

70,132

ZONING

Commercial

APN/PARCEL ID

14-01-29-17-301-016

ASK ABOUT THIS PROPERTY

Jon FisherMr. LandmanMore Info
217-202-0924

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Jon FisherMr. LandmanMore Info
217-202-0924

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.