Investment Overview

Marcus & Millichap is pleased to present the opportunity to acquire CubeSmart Self Storage(Managed), a compelling value-add self-storage investment opportunity in St. Joseph, Missouri. The property consists of 702 climate-controlled units totaling 69,770 rentable square feet and is professionally managed by CubeSmart. Originally constructed in 1924 and converted to self-storage in 2023, the facility offers investors the opportunity to acquire a modernized asset at a price significantly below replacement cost while capitalizing on substantial lease-up and rental rate upside. The facility is currently 33.6% physically occupied, creating an opportunity to increase cash flow through stabilization rather than relying on additional capital improvements. The offering projects Year 3 Net Operating Income of approximately $551,900, equating to a 9.2% cap rate at the $6,000,000 asking price. The property serves a trade area of more than 42,000 residents within three miles and approximately 76,700 residents within five miles. The immediate three-mile market remains under-supplied with only 4.93 square feet of storage per capita, while the subject property's climate-controlled online rental rates are approximately 42% to 46% below competing facilities, providing meaningful opportunity for future rate growth as occupancy improves. With institutional third-party management already in place, attractive seller financing available, below-replacement-cost pricing, and significant upside through lease-up and revenue optimization, CubeSmart (Managed) offers investors a rare opportunity to acquire a high-quality climate-controlled asset with multiple avenues for value creation.