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Self-Storage Facility

C & C Mini Storage

10277 Rodriguez St, D'Iberville, MS 39540

Listing Price: $825,000

Cap Rate
6.86%
Number of Units
146
Occupancy
83.6%
Gross SF
15,236
Rentable SF
15,236
Price/Rentable SF
$54.15

Investment Overview

Marcus & Millichap is proud to exclusively offer C&C Mini Storage, located at 10277 Rodriguez Street, D'Iberville, Mississippi 39540.

C&C Mini Storage consists of 146 non-climate controlled units and 2 open parking spaces on two parcels that equal 1.91 acres. The facility is paved, fenced and gated with controlled/keypad access. While the property is highly occupied, 91 percent in April, there are many ways to add value to this investment. For starters, the 0.91 acre lot behind the facility can be used for boat & RV parking or developed with additional units, once rezoned. Also, there is a 1600 square foot space that is vacant. It is insulated and has heating and air. This space can be converted to climate controlled units or improved and leased out as office space.

D'Iberville is located in the Mississippi Gulf Coast amongst other cities such as Biloxi, Ocean Springs, Waveland, Gulfport and Pascagoula. The area has a diverse work force but the primary economic drivers come from the casinos, which contributes nearly $1 billion annually to local governments, and Kessler Air Force Base, a training base for 40,000 military and medical support staff. Kessler contributes an annual economic impact to the Gulf Coast of $1.1 billion and is the largest employer in the region. The Biloxi Casino District is home to 11 casinos. The gaming industry has added 23,460 jobs in the past four years. Beau Rivage and IP Casino Resort & Spa are located just a couple of miles from the facility. C&C Mini Storage is also located just a couple of miles from the Promenade and Lakeview Village, a mixed-use retail development project located at the intersection of Interstate 10 and Interstate 110. This shopping district includes major retail stores such as Wal-Mart, Target, Best Buy, Lowes, Dicks Sporting Goods and restaurants including Twin Peaks and Outback Steakhouse.

C&C Mini Storage is being offered at $825,000 which represents a 6.86 percent cap rate on in-place NOI. The property is performing well but by tweaking the operations and reducing the economic vacancy, the cap rate grows to 7.75 percent. Attractive debt options are available allowing the investor to earn over 12 percent after the first year.

Investment Highlights

  • 146 Non-Climate Controlled Units | 15,236 Rentable Square Feet
  • Value Add Investment With Room to Expand
  • 91 Percent Physically Occupied
  • 84 Percent Economically Occupied
  • 35,630 People Within the 3-Mile Radius

Exclusively Listed By

  • Anne Williams

    First Vice President Investments

    (901) 620-3622

    Email Anne

    License(s): TN: 00255603, AR: PB00066390, MS: B-20181

    Memphis

Broker of Record

  • Mickey Davis

    Associate

    (901) 620-3600

    License(s) MS: 15586

    Mississippi

Self-Storage Facility

C & C Mini Storage

Listing Price: $825,000

Cap Rate
6.86%
Number of Units
146
Occupancy
83.6%
Gross SF
15,236
Rentable SF
15,236
Price/Rentable SF
$54.15

Investment Highlights

  • 146 Non-Climate Controlled Units | 15,236 Rentable Square Feet
  • Value Add Investment With Room to Expand
  • 91 Percent Physically Occupied
  • 84 Percent Economically Occupied
  • 35,630 People Within the 3-Mile Radius

Investment Overview

Marcus & Millichap is proud to exclusively offer C&C Mini Storage, located at 10277 Rodriguez Street, D'Iberville, Mississippi 39540.

C&C Mini Storage consists of 146 non-climate controlled units and 2 open parking spaces on two parcels that equal 1.91 acres. The facility is paved, fenced and gated with controlled/keypad access. While the property is highly occupied, 91 percent in April, there are many ways to add value to this investment. For starters, the 0.91 acre lot behind the facility can be used for boat & RV parking or developed with additional units, once rezoned. Also, there is a 1600 square foot space that is vacant. It is insulated and has heating and air. This space can be converted to climate controlled units or improved and leased out as office space.

D'Iberville is located in the Mississippi Gulf Coast amongst other cities such as Biloxi, Ocean Springs, Waveland, Gulfport and Pascagoula. The area has a diverse work force but the primary economic drivers come from the casinos, which contributes nearly $1 billion annually to local governments, and Kessler Air Force Base, a training base for 40,000 military and medical support staff. Kessler contributes an annual economic impact to the Gulf Coast of $1.1 billion and is the largest employer in the region. The Biloxi Casino District is home to 11 casinos. The gaming industry has added 23,460 jobs in the past four years. Beau Rivage and IP Casino Resort & Spa are located just a couple of miles from the facility. C&C Mini Storage is also located just a couple of miles from the Promenade and Lakeview Village, a mixed-use retail development project located at the intersection of Interstate 10 and Interstate 110. This shopping district includes major retail stores such as Wal-Mart, Target, Best Buy, Lowes, Dicks Sporting Goods and restaurants including Twin Peaks and Outback Steakhouse.

C&C Mini Storage is being offered at $825,000 which represents a 6.86 percent cap rate on in-place NOI. The property is performing well but by tweaking the operations and reducing the economic vacancy, the cap rate grows to 7.75 percent. Attractive debt options are available allowing the investor to earn over 12 percent after the first year.

Exclusively Listed By

  • Anne Williams

    First Vice President Investments

    (901) 620-3622

    Email Anne

    License(s): TN: 00255603, AR: PB00066390, MS: B-20181

    Memphis

Broker of Record

  • Mickey Davis

    Associate

    (901) 620-3600

    License(s): MS: 15586

    Mississippi

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