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Self-Storage Facility

Storage King

5091 Oak Ridge Dr, Huntington, WV 25705

Listing Price: $1,900,000

Cap Rate
6.35%
Number of Units
148
Occupancy
98.0%
Gross SF
23,400
Rentable SF
23,400
Price/Rentable SF
$81.20
Year Built
2020

Investment Overview

Storage King is a 148 unit self-storage property listed for sale in Huntington, WV. Built in 2020, the facility is all non-climate and has leased up to 98% occupancy by unit count. Storage King offers the benefits of remote management along with the necessary features including but not limited to, keypadded gate access, digital video surveillance, and exterior lighting. Offered at $1,900,000 this opportunity represents a five and three quarter cap rate on in-place income. An investor is expected to increase revenue through moderate improvements in rents and the continued stabilization of move-ins and move-outs that come with recently built facilities. With this upside a prudent investor is expected to realize a Pro-Forma 7% Cash-on-Cash return.

Investment Highlights

  • New Facility Built in 2020
  • 98% Physical Occupancy
  • 5-Mile Population over 60,000
  • Set up for Remote Management
  • Less than 6 SF/Capita in 5-Mile Radius

Exclusively Listed By

Broker of Record

  • Francis McGuire

    Broker Of Record

    (304) 751-6577

    License(s) WV0019009

    West Virginia

Financing By

Self-Storage Facility

Storage King

Listing Price: $1,900,000

Cap Rate
6.35%
Number of Units
148
Occupancy
98.0%
Gross SF
23,400
Rentable SF
23,400
Price/Rentable SF
$81.20
Year Built
2020

Investment Highlights

  • New Facility Built in 2020
  • 98% Physical Occupancy
  • 5-Mile Population over 60,000
  • Set up for Remote Management
  • Less than 6 SF/Capita in 5-Mile Radius

Investment Overview

Storage King is a 148 unit self-storage property listed for sale in Huntington, WV. Built in 2020, the facility is all non-climate and has leased up to 98% occupancy by unit count. Storage King offers the benefits of remote management along with the necessary features including but not limited to, keypadded gate access, digital video surveillance, and exterior lighting. Offered at $1,900,000 this opportunity represents a five and three quarter cap rate on in-place income. An investor is expected to increase revenue through moderate improvements in rents and the continued stabilization of move-ins and move-outs that come with recently built facilities. With this upside a prudent investor is expected to realize a Pro-Forma 7% Cash-on-Cash return.

Exclusively Listed By

Broker of Record

  • Francis McGuire

    Broker Of Record

    (304) 751-6577

    License(s): WV0019009

    West Virginia

Financing By

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