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Self-Storage Facility

Combs Mini Storage

2100 US-67, Festus, MO 63028

Listing Price: $7,000,000

Year Built
2005

Investment Overview


Marcus & Millichap is honored to present for sale Combs Mini Storage. This facility is comprised of 506 non-climate controlled units and 23 parking spaces for a total of 529 units within 63,680 rentable square feet in Festus, Missouri. Amenities include an on-site management office,24 hour surveillance security cameras, perimeter security fence, controlled access entry and paved drives. Above the office is a private, 1,200 square foot apartment well suited for a managers on-site residence. The current owner has recently invested in blacktop resealing(2019), Poly Seal roofing (2019) and transition to cylinder locks facility-wide (2019). Another recent update includes a 16 camera 24-hour surveillance system (2018), three of which are in the office. As of July 2021, the facility was 98 percent physically occupied. Positioned on the intersection of US Interstate 55 and Missouri Highway 67, Festus totals approximately 11,000 in population and is located in Jefferson County, with a total population of over 218,000,making it the 6th most populous county in the state of Missouri. Festus is 23 miles south of St. Louis County and 35 miles south of St. Louis City, firmly planting it in the St. Louis Metropolitan Area. Combs Mini Storage sits in a growing market with population at approximately 30,000 within five miles and an average household income of $78,052. With fantastic visibility just off Highway 67, Combs Mini Storage has over 500 linear feet of highway frontage with excellent signage and over 35,000vehicles passing daily. The primary economic drivers in Festus are serviced through employment in the areas of medical, retail and government.

Combs Mini Storage is listed for $7,000,000, at $109.82 per square foot and a 5.53 percent Cap Rate based on trailing six month income. There is currently CMBS debt on the property which matures in March 2030. The loan, with a balance of approximately $3,100,000, will need to be assumed. Combs Mini Storage offers the opportunity to acquire a highly occupied, stabilized income producing asset enabling an investor to add value by scheduling consistent rent increases and converting existing interior non-climate controlled units to climate controlled units.

Investment Highlights

  • 501 Non-Climate, 23 Parking Spaces and Five Containers for a total of 529 Units
  • 63,680 Rentable Square Feet
  • Stabilized Facility on 4.62 acres in Festus, Missouri in the St. Louis MSA
  • Year 1 Cap Rate of 6.35 Percent
  • Year 1 Cash-on-Cash of 6.41 Percent

Exclusively Listed By

Self-Storage Facility

Combs Mini Storage

Listing Price: $7,000,000

Year Built
2005

Investment Highlights

  • 501 Non-Climate, 23 Parking Spaces and Five Containers for a total of 529 Units
  • 63,680 Rentable Square Feet
  • Stabilized Facility on 4.62 acres in Festus, Missouri in the St. Louis MSA
  • Year 1 Cap Rate of 6.35 Percent
  • Year 1 Cash-on-Cash of 6.41 Percent

Investment Overview


Marcus & Millichap is honored to present for sale Combs Mini Storage. This facility is comprised of 506 non-climate controlled units and 23 parking spaces for a total of 529 units within 63,680 rentable square feet in Festus, Missouri. Amenities include an on-site management office,24 hour surveillance security cameras, perimeter security fence, controlled access entry and paved drives. Above the office is a private, 1,200 square foot apartment well suited for a managers on-site residence. The current owner has recently invested in blacktop resealing(2019), Poly Seal roofing (2019) and transition to cylinder locks facility-wide (2019). Another recent update includes a 16 camera 24-hour surveillance system (2018), three of which are in the office. As of July 2021, the facility was 98 percent physically occupied. Positioned on the intersection of US Interstate 55 and Missouri Highway 67, Festus totals approximately 11,000 in population and is located in Jefferson County, with a total population of over 218,000,making it the 6th most populous county in the state of Missouri. Festus is 23 miles south of St. Louis County and 35 miles south of St. Louis City, firmly planting it in the St. Louis Metropolitan Area. Combs Mini Storage sits in a growing market with population at approximately 30,000 within five miles and an average household income of $78,052. With fantastic visibility just off Highway 67, Combs Mini Storage has over 500 linear feet of highway frontage with excellent signage and over 35,000vehicles passing daily. The primary economic drivers in Festus are serviced through employment in the areas of medical, retail and government.

Combs Mini Storage is listed for $7,000,000, at $109.82 per square foot and a 5.53 percent Cap Rate based on trailing six month income. There is currently CMBS debt on the property which matures in March 2030. The loan, with a balance of approximately $3,100,000, will need to be assumed. Combs Mini Storage offers the opportunity to acquire a highly occupied, stabilized income producing asset enabling an investor to add value by scheduling consistent rent increases and converting existing interior non-climate controlled units to climate controlled units.

Exclusively Listed By

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