Investment Overview

Marcus & Millichap is pleased to present Douglas Avenue Storage located in Racine, Wisconsin. This property offers 24,300 rentable square feet on 2.34 acres along busy Douglas Avenue and is 93% physically occupied. The facility is comprised of 177 total units, both climate and non-climate-controlled, with additional outdoor parking spaces and is gated with eight security cameras. The Trachte drive-up and climate-controlled storage buildings have standing seam roofs. The property also features a brick office building that holds the 250 square foot management/rental office, an additional vacant 750 square foot office suite and a +/- 2,000 square foot 2 bed / 2 bath apartment with a 2-car heated garage. Douglas Avenue Storage is located within a strong demographic area with only 6.4 square feet per capita of storage within a five-mile radius. The 2022 estimated five-mile population is 66,529 with 26,199 households and average household income of $100,992 in the three-mile radius. Douglas Avenue Storage allows new ownership to increase revenue with improved advertising, streamlining of management systems and leasing the vacant office space and rental apartment which is currently owner-occupied. Based on current area rents, the apartment with garage included should rent for $1,600-2,200 per month and the 750 SF vacant office should rent for $12-18/SF.