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Self-Storage Facility

Central Louisiana Two Property Portfolio

1916 Melrose St, Pineville, LA 71360

Listing Price: $1,900,000

Cap Rate
6.64%
Number of Units
273
Occupancy
72.3%
Gross SF
34,991
Rentable SF
34,991
Price/Rentable SF
$54.30

Investment Overview

Marcus & Millichap is pleased to offer for sale a two-property self-storage portfolio located in Pineville and Woodworth Louisiana.

The two properties are located 13 miles apart from each other and feature 273 units, totaling 34,991 combined net rentable square feet. All About Storage - Pineville consists of 123 units and Easy Stor of Woodworth consists of 150 units. The Pineville location is 95 percent occupied, and the Woodworth location is 99 percent occupied.

All About Storage - Pineville is less than a mile away from Louisiana College which is rated as one of the top 30 Christian Colleges in the country and offers both undergraduate and graduate degree programs along with competing in 13 sports at the NAIA level. Additionally, the facility is located 3 miles from Downtown Alexandria which is the Parish seat of Rapides Parish and the 10th largest city in Louisiana. The facility fronts Melrose Street and is approximately 6/10 of a mile from Highway 167 and sees roughly 15,000 cars pass by the facility daily. The owner currently leases one office to Acadian Ambulance for $850 a month.

Easy Stor of Woodworth is the only storage facility located in a 5-mile radius of the town of Woodworth. The town of Woodworth is a growing bedroom community outside of Alexandria with numerous residential subdivisions under development. The Woodworth facility sits across the street from the local Junior High, Caroline Dormon Junior High.

The facilities are owned and operated by a local resident who is seeking retirement. Since their ownership began in the 90s there has been very minimal rent increases. The current owner has been relatively passive regarding collecting late rents. A new owner could benefit greatly by increasing the economic occupancy and ensuring that late rents are collected.

Investment Highlights

  • 34,991 NRSF
  • 97.44 Percent Occupancy
  • Limited Rental Increase in 10+ Years
  • Upside in Utilizing Kiosk System

Exclusively Listed By

Self-Storage Facility

Central Louisiana Two Property Portfolio

Listing Price: $1,900,000

Cap Rate
6.64%
Number of Units
273
Occupancy
72.3%
Gross SF
34,991
Rentable SF
34,991
Price/Rentable SF
$54.30

Investment Highlights

  • 34,991 NRSF
  • 97.44 Percent Occupancy
  • Limited Rental Increase in 10+ Years
  • Upside in Utilizing Kiosk System

Investment Overview

Marcus & Millichap is pleased to offer for sale a two-property self-storage portfolio located in Pineville and Woodworth Louisiana.

The two properties are located 13 miles apart from each other and feature 273 units, totaling 34,991 combined net rentable square feet. All About Storage - Pineville consists of 123 units and Easy Stor of Woodworth consists of 150 units. The Pineville location is 95 percent occupied, and the Woodworth location is 99 percent occupied.

All About Storage - Pineville is less than a mile away from Louisiana College which is rated as one of the top 30 Christian Colleges in the country and offers both undergraduate and graduate degree programs along with competing in 13 sports at the NAIA level. Additionally, the facility is located 3 miles from Downtown Alexandria which is the Parish seat of Rapides Parish and the 10th largest city in Louisiana. The facility fronts Melrose Street and is approximately 6/10 of a mile from Highway 167 and sees roughly 15,000 cars pass by the facility daily. The owner currently leases one office to Acadian Ambulance for $850 a month.

Easy Stor of Woodworth is the only storage facility located in a 5-mile radius of the town of Woodworth. The town of Woodworth is a growing bedroom community outside of Alexandria with numerous residential subdivisions under development. The Woodworth facility sits across the street from the local Junior High, Caroline Dormon Junior High.

The facilities are owned and operated by a local resident who is seeking retirement. Since their ownership began in the 90s there has been very minimal rent increases. The current owner has been relatively passive regarding collecting late rents. A new owner could benefit greatly by increasing the economic occupancy and ensuring that late rents are collected.

Exclusively Listed By

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