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Self-Storage Facility

Lincoln Storage

315 Glenn St N, Vale, OR 97918

Listing Price: $2,130,000

Cap Rate
5.08%
Number of Units
191
Occupancy
97.9%
Gross SF
30,000
Rentable SF
27,633
Price/Rentable SF
$77.08
Year Built
1976

Investment Overview

STRONG REVENUE GROWTH // Since acquiring the facility the seller has increased revenue 10 to 15 percent each year. As the only storage option in Vale, future owners will continue to benefit from strong revenue growth and demand. At 98 percent economic occupancy a new owner could aggressively push rents on existing tenants.

LIMITED SUPPLY // The closest competitor to the property is 12 miles away. Lincoln Storage is the only storage facility in Vale, OR and has an average occupancy of over 95 percent. The facility is currently 99 percent physically occupied and 98 percent economically occupied (June 2023).

OPERATIONAL UPSIDE // The Seller is contracting with U-Haul to provide rental trucks from the facility and will be the only U-Haul dealer. A new owner would benefit from implementing more dynamic revenue management and implementing a tenant insurance sales plan.

GOOD VISIBILITY // Located in the heart of Vale, OR the property is located on Highway 20 and Highway 26 which combine for 7,200 vehicles per day.

Investment Highlights

  • STRONG REVENUE GROWTH
  • LIMITED SUPPLY
  • OPERATIONAL UPSIDE

Exclusively Listed By

Broker of Record

  • David Tabata

    Regional Manager

    (503) 200-2000

    License(s) OR: 201224889

    Oregon

Self-Storage Facility

Lincoln Storage

Listing Price: $2,130,000

Cap Rate
5.08%
Number of Units
191
Occupancy
97.9%
Gross SF
30,000
Rentable SF
27,633
Price/Rentable SF
$77.08
Year Built
1976

Investment Highlights

  • STRONG REVENUE GROWTH
  • LIMITED SUPPLY
  • OPERATIONAL UPSIDE

Investment Overview

STRONG REVENUE GROWTH // Since acquiring the facility the seller has increased revenue 10 to 15 percent each year. As the only storage option in Vale, future owners will continue to benefit from strong revenue growth and demand. At 98 percent economic occupancy a new owner could aggressively push rents on existing tenants. LIMITED SUPPLY // The closest competitor to the property is 12 miles away. Lincoln Storage is the only storage facility in Vale, OR and has an average occupancy of over 95 percent. The facility is currently 99 percent physically occupied and 98 percent economically occupied (June 2023). OPERATIONAL UPSIDE // The Seller is contracting with U-Haul to provide rental trucks from the facility and will be the only U-Haul dealer. A new owner would benefit from implementing more dynamic revenue management and implementing a tenant insurance sales plan. GOOD VISIBILITY // Located in the heart of Vale, OR the property is located on Highway 20 and Highway 26 which combine for 7,200 vehicles per day.

Exclusively Listed By

Broker of Record

  • David Tabata

    Regional Manager

    (503) 200-2000

    License(s): OR: 201224889

    Oregon

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