CORNER 3RD & MONTEREY ST - Self-Storage Facilities FOR SALE


San Juan Bautista, CA 95045
$2,500,000 USD
831-320-3119
CORNER 3RD & MONTEREY ST, San Juan Bautista, CA for Sale
$2,500,000 USD
Self-Storage Facilities - FOR SALE
1/22
null | Request Cap Rate

CORNER 3RD & MONTEREY ST
San Juan Bautista, CA 95045


HIGHLIGHTS

  • Self Storage Investment Opportunity - Investors have the opportunity to acquire a self-storage complex in the thriving city of San Juan Bautista..
  • Desirable Unit Mix - The subject property offers 176 indoor non-climate controlled units, 2 apartments, and one space for an outdoor RV.
  • Extremely high barriers to entry for new supply given combination of land pricing and entitlement headwinds.
  • Strong Income Submarket: Average Household Income - $142,401 (5-Mile Radius)

OVERVIEW

FIRST TIME ON THE MARKET! Harvey's Lockup represents a rare opportunity to acquire a well-maintained self-storage facility in the thriving city of San Juan Bautista, California. Acquisition of the asset will provide an investor with immediate cash-flow and a well-located self-storage facility with strong demographics. Additional upside can be attained through increasing rents to market rents as rental rates have increased steadily in the past few years. The subject property was built in 1956 and more recently renovated in 2010. It consists of 176 total units of self-storage spaces, 1 RV space, and 2 Apartments. In addition, Harvey's Lockup sits on 0.85 Acre parcel of land and consists of three separate buildings with metal and steel framing. Harvey's Lockup has fire sprinklers thorough the facility and includes 24/7 surveillance, on-site dollies, handcarts, locks and electronic entrances with key code access. The facility would appeal to every investor interested in owning a self-storage facility in the state of California. A local storage owner could benefit from spreading costs across a broader economic base. An exchange or cross-product buyer would be attracted to the stable cash flow and ease of management that storage provides. Lastly, a local apartment investor could diversify an investment portfolio and create cross-marketing opportunities between residential and storage properties.

FOR SALE DETAILS

PRICE

$2,500,000 USD

PRICE/SF

$112 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Owner User

BUILDING DETAILS

PROPERTY NAME

INDOOR SELF STORAGE FACILITY

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1959

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.85 AC

LAND SF

37,026 SF

ZONING

MU

APN/PARCEL ID

002-040-001-000

ASK ABOUT THIS PROPERTY

Susan Massa-ThomasThomas International RealtyMore Info
831-320-3119

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Susan Massa-ThomasThomas International RealtyMore Info
831-320-3119

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