Self-Storage Facility
Big Oak Center Storage
13380 CA-20, Clearlake Oaks, CA 95423
Listing Price: $8,000,000
Investment Overview
Marcus & Millichap is pleased to present Big Oak Center Storage, an institutional-quality self
storage facility located in Clearlake Oaks, California. The property comprises of 457 non
climate-controlled units, totaling 72,490 net rentable square feet. The self-storage property
has been upgraded extensively over the last three years: five storage building's roofs were
replaced, all the storage buildings were painted, new electrical and lighting was installed,
andnewrollupdoorswere installedthroughout the property.
Additionally, the property offers a qualified investor the rare opportunity to acquire the only
storage facility in the city of Clearlake Oaks.
The property is offered at $8,000,000 ($110/nrsf) which equates to a 6.48% cap rate on the
current NOI and a 6.91% cap rate based on a pro forma NOI. Priced well below replacement
costs, a new investor has the opportunity to purchase a stabilized storage asset and
increase the NOI by raising the rents to market and adding fee income as an additional
source of revenue.
Big Oak Center Storage
Investment Highlights
- Located along State Highway 20 in Clearlake Oaks, California, with exceptional visibility and direct access to one of Lake County's primary transportation corridors.
- Facility has been well maintained. Current owners have invested over $500,000 into upgrading the property.
- Operational upside is available for a new owner by implementing fee income as an additional source of revenue. Also, investing into a targeted marketing campaign to increase occupancy.
- New investor has the opportunity to acquire a stabilized facility running at 89% occupancy and raise rates almost immediately increasing their NOI in Year 1.
Exclusively Listed By
Listing Price: $8,000,000
Investment Highlights
- Located along State Highway 20 in Clearlake Oaks, California, with exceptional visibility and direct access to one of Lake County's primary transportation corridors.
- Facility has been well maintained. Current owners have invested over $500,000 into upgrading the property.
- Operational upside is available for a new owner by implementing fee income as an additional source of revenue. Also, investing into a targeted marketing campaign to increase occupancy.
- New investor has the opportunity to acquire a stabilized facility running at 89% occupancy and raise rates almost immediately increasing their NOI in Year 1.
Investment Overview
Marcus & Millichap is pleased to present Big Oak Center Storage, an institutional-quality self storage facility located in Clearlake Oaks, California. The property comprises of 457 non climate-controlled units, totaling 72,490 net rentable square feet. The self-storage property has been upgraded extensively over the last three years: five storage building's roofs were replaced, all the storage buildings were painted, new electrical and lighting was installed, andnewrollupdoorswere installedthroughout the property. Additionally, the property offers a qualified investor the rare opportunity to acquire the only storage facility in the city of Clearlake Oaks. The property is offered at $8,000,000 ($110/nrsf) which equates to a 6.48% cap rate on the current NOI and a 6.91% cap rate based on a pro forma NOI. Priced well below replacement costs, a new investor has the opportunity to purchase a stabilized storage asset and increase the NOI by raising the rents to market and adding fee income as an additional source of revenue.
Exclusively Listed By
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