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Self-Storage Facility

Heartland Storage 4 Property Portfolio

1710 IN-130, Hobart, IN 46342

Listing Price: $26,950,000

Cap Rate
3.85%
Number of Units
1,655
Occupancy
64.0%
Gross SF
207,672
Rentable SF
207,672
Price/Rentable SF
$129.77
Year Built
1988

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale the Heartland Storage 4 Property Portfolio in Indiana and Illinois. The portfolio is undergoing some expansion and once complete will feature 207,672 net rentable square feet across 1,655 total units. All of the sites are in affluent markets with dense surrounding populations. Indiana recently passed a favorable tax law as well that requires the assessor to value the property using the lowest of the three valuation methods. The law also requires the assessor to exclude business value, which is any value in excess of replacement cost less depreciation.

Investment Highlights

  • Four Property Portfolio With Tremendous Upside Through Lease-Up and Strong Current Operation
  • Mix of Non-Climate-Controlled and Climate-Controlled Units
  • Hobart Expansion C/O Date: December 2022
  • Merrillville Expansion C/O Date: Summer 2023
  • Michigan City Expansion Completion: May 2022

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Financing By

Self-Storage Facility

Heartland Storage 4 Property Portfolio

Listing Price: $26,950,000

Cap Rate
3.85%
Number of Units
1,655
Occupancy
64.0%
Gross SF
207,672
Rentable SF
207,672
Price/Rentable SF
$129.77
Year Built
1988

Investment Highlights

  • Four Property Portfolio With Tremendous Upside Through Lease-Up and Strong Current Operation
  • Mix of Non-Climate-Controlled and Climate-Controlled Units
  • Hobart Expansion C/O Date: December 2022
  • Merrillville Expansion C/O Date: Summer 2023
  • Michigan City Expansion Completion: May 2022

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale the Heartland Storage 4 Property Portfolio in Indiana and Illinois. The portfolio is undergoing some expansion and once complete will feature 207,672 net rentable square feet across 1,655 total units. All of the sites are in affluent markets with dense surrounding populations. Indiana recently passed a favorable tax law as well that requires the assessor to value the property using the lowest of the three valuation methods. The law also requires the assessor to exclude business value, which is any value in excess of replacement cost less depreciation.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

Financing By

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