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Self-Storage Facility

Creekside Storage

6535 Creekside View Dr SE, Grand Rapids, MI 49508

Listing Price: $9,000,000

Cap Rate
1.61%
Number of Units
658
Occupancy
51.0%
Rentable SF
122,216
Price/Rentable SF
$73.64
Year Built
2019

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Creekside Storage located in Grand Rapids, Michigan. The facility consists of 658 non-climate-controlled units totaling 122,216 net rentable square-feet. This is a newly built facility with upside through lease-up and rental increases. The property is fully fenced with a keypad, gated entry, an on-site management office, and 24-hour video surveillance. The location of this facility benefits from a dense and rapidly growing surrounding population. The population within five miles of the facility is 141,022, which represents a 20 percent increase since 2000 and is expected to continue to grow over the next five years. They are located next to a busy street and are surrounded by lots of residential neighborhoods, as well as restaurants and retail stores. This offers the facility great street frontage and high daily traffic counts of around 51,600 cars per day off Michigan Route 6. Creekside Storage is being offered for $9 million or $73.64 per rentable square-foot.

Investment Highlights

  • Grand Rapids, Michigan Self-Storage Offering
  • 122,216 Net Rentable Square-Feet
  • 658 Non-Climate-Controlled Units
  • Facility in Lease-Up: 50.62 Percent Physically Occupied
  • Below Market Rents

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s) MI: 6502387903

    Michigan

Financing By

Self-Storage Facility

Creekside Storage

Listing Price: $9,000,000

Cap Rate
1.61%
Number of Units
658
Occupancy
51.0%
Rentable SF
122,216
Price/Rentable SF
$73.64
Year Built
2019

Investment Highlights

  • Grand Rapids, Michigan Self-Storage Offering
  • 122,216 Net Rentable Square-Feet
  • 658 Non-Climate-Controlled Units
  • Facility in Lease-Up: 50.62 Percent Physically Occupied
  • Below Market Rents

Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Creekside Storage located in Grand Rapids, Michigan. The facility consists of 658 non-climate-controlled units totaling 122,216 net rentable square-feet. This is a newly built facility with upside through lease-up and rental increases. The property is fully fenced with a keypad, gated entry, an on-site management office, and 24-hour video surveillance. The location of this facility benefits from a dense and rapidly growing surrounding population. The population within five miles of the facility is 141,022, which represents a 20 percent increase since 2000 and is expected to continue to grow over the next five years. They are located next to a busy street and are surrounded by lots of residential neighborhoods, as well as restaurants and retail stores. This offers the facility great street frontage and high daily traffic counts of around 51,600 cars per day off Michigan Route 6. Creekside Storage is being offered for $9 million or $73.64 per rentable square-foot.

Exclusively Listed By

Broker of Record

  • Steven Chaben

    Senior Vice President / Regional Manager

    (248) 415-2600

    License(s): MI: 6502387903

    Michigan

Financing By

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