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Self-Storage Facility

Red Door Storage

2010 Church St, Zachary, LA 70791

Listing Price: $2,700,000

Cap Rate
4.63%
Number of Units
294
Occupancy
74.0%
Gross SF
31,835
Rentable SF
31,835
Price/Rentable SF
$84.81
Year Built
1997

Investment Overview

Marcus & Millichap is pleased to offer for sale Red Door Storage in Zachary, Louisiana.

Red Door Storage consists of 109 climate-controlled units, 144 non-climate-controlled units, and 41 uncovered boat & RV parking spaces. The property includes an additional 6+/- acres of expansion land and has a Verizon cell tower on the property producing $800 a month in rent. The facility has numerous amenities including a gated access with passcode, concrete drives, security cameras throughout the property, and a full service managers office.

The property fronts on Church Street and is centrally located within the community of Zachary. On either side of the facility is the Zachary Branch Library and a large retail center anchored by Rouses Market and Ace Hardware. The facility sees an average of 16,217 cars pass by daily. Red Door Storage is located 1.6 miles from Zachary High School.

Zachary is located 16 miles north of Baton Rouge and is one of the fastest growing communities in Louisiana thanks in large part to its highly rated school system and the healthcare industry. The website niche.com ranks the Zachary Independent School District as the number one rated school district in Louisiana, a title it has held since 2005. Zachary boasts a state-of-the-art medical facility, Lane Regional Medical Center. The medical center is the largest employer in Zachary with more than 800 employees. In 2021 Lane Medical Center announced a major hospital expansion, including a new four-story patient tower and is expected to be complete in the spring of 2024.

The city of Zachary topped the list of Louisiana cities with the highest median household income and within 1 mile of Red Door Storage the Median Household Income is $87,362. Despite being one of the wealthier areas in the entire state, Red Door Storages rents are well below its submarket competitors. In some cases the street rates are around half of what the top of the market is asking. Between below market rents, land for expansion and room for physical occupancy growth Red Door Storage offers an investor several paths to achieve significant upside.

As of April 23rd, Red Door Storage was 82 percent physically occupied.

Investment Highlights

  • Fronts on Church Street | 16,217 Daily Traffic Counts
  • 294 Units | 31,835 NRSF
  • 82% Current Physical Occupancy
  • Zachary, Louisiana Median Household Income of $77,299 Highest in Louisiana
  • +/- 6 Acres of Expansion Land Included

Exclusively Listed By

Self-Storage Facility

Red Door Storage

Listing Price: $2,700,000

Cap Rate
4.63%
Number of Units
294
Occupancy
74.0%
Gross SF
31,835
Rentable SF
31,835
Price/Rentable SF
$84.81
Year Built
1997

Investment Highlights

  • Fronts on Church Street | 16,217 Daily Traffic Counts
  • 294 Units | 31,835 NRSF
  • 82% Current Physical Occupancy
  • Zachary, Louisiana Median Household Income of $77,299 Highest in Louisiana
  • +/- 6 Acres of Expansion Land Included

Investment Overview

Marcus & Millichap is pleased to offer for sale Red Door Storage in Zachary, Louisiana.

Red Door Storage consists of 109 climate-controlled units, 144 non-climate-controlled units, and 41 uncovered boat & RV parking spaces. The property includes an additional 6+/- acres of expansion land and has a Verizon cell tower on the property producing $800 a month in rent. The facility has numerous amenities including a gated access with passcode, concrete drives, security cameras throughout the property, and a full service managers office.

The property fronts on Church Street and is centrally located within the community of Zachary. On either side of the facility is the Zachary Branch Library and a large retail center anchored by Rouses Market and Ace Hardware. The facility sees an average of 16,217 cars pass by daily. Red Door Storage is located 1.6 miles from Zachary High School.

Zachary is located 16 miles north of Baton Rouge and is one of the fastest growing communities in Louisiana thanks in large part to its highly rated school system and the healthcare industry. The website niche.com ranks the Zachary Independent School District as the number one rated school district in Louisiana, a title it has held since 2005. Zachary boasts a state-of-the-art medical facility, Lane Regional Medical Center. The medical center is the largest employer in Zachary with more than 800 employees. In 2021 Lane Medical Center announced a major hospital expansion, including a new four-story patient tower and is expected to be complete in the spring of 2024.

The city of Zachary topped the list of Louisiana cities with the highest median household income and within 1 mile of Red Door Storage the Median Household Income is $87,362. Despite being one of the wealthier areas in the entire state, Red Door Storages rents are well below its submarket competitors. In some cases the street rates are around half of what the top of the market is asking. Between below market rents, land for expansion and room for physical occupancy growth Red Door Storage offers an investor several paths to achieve significant upside.

As of April 23rd, Red Door Storage was 82 percent physically occupied.

Exclusively Listed By

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