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Self-Storage Facility

Inner Space Storage

502 Twin Bridges Rd, Alexandria, LA 71303

Listing Price: $2,050,000

Cap Rate
5.97%
Number of Units
260
Occupancy
87.8%
Rentable SF
30,500
Price/Rentable SF
$67.21
Year Built
1981

Investment Overview

Marcus & Millichap is pleased to offer for sale Inner Space Storage located at 502 Twin Bridges Road, Alexandria, Louisiana.   Inner Space Storage sits on roughly 1.8 acres of land and consists of 260 units, amounting to 30,500 net rentable square feet. The facility is currently 95 percent physically occupied and the rental rates are roughly 30 percent below the market average. Inner Space Storage offers several amenities including, but not limited to surveillance cameras and motion sensors throughout the property, an automated security gate, roll up doors, concrete driveways, a manager’s office, and a front desk/lobby area.   The facility is strategically located on the corner of Twin Bridges Road and Lodi Road. Twin Bridges Road connects the multiple surrounding neighborhoods to interstate 165, a main thoroughfare that connects Lake Charles and Monroe to Alexandria. The facility sees a daily traffic count of roughly 6,943 vehicles.   Alexandria is the parish seat of Rapides Parish and is the principal city of the Alexandria metropolitan area (population 153,922). In addition to being situated in a predominantly residential part of town, the facility is located roughly one mile away from Alexandria High School. Alexandria is home to Louisiana College, a top 30 Christian College in the country that offers both undergraduate and graduate degree programs along with competing in 13 sports at the NAIA level. Key economic drivers of Alexandria are manufacturing, healthcare, agriculture, and forestry. A few major employers in the area are Procter and Gamble, Crest Industries, and Plastipak Packaging.   Inner Space Storage should create a stable investment with value-add components. The owner is a locally based investor who is looking to scale back their operations. The lack of ancillary income from tenant insurance and below market rents should provide a new owner multiple avenues to increase future upside. The added use of professional management could further increase returns for a new owner.

Investment Highlights

  • 95 Percent Current Physical Occupancy
  • Rental Rates Roughly 30% Below Market Averages
  • Situated Close to Alexandria High School
  • Multiple Facility Amenities
  • Upside in Capturing Ancillary Tenant Insurance Income

Exclusively Listed By

Financing By

Self-Storage Facility

Inner Space Storage

Listing Price: $2,050,000

Cap Rate
5.97%
Number of Units
260
Occupancy
87.8%
Rentable SF
30,500
Price/Rentable SF
$67.21
Year Built
1981

Investment Highlights

  • 95 Percent Current Physical Occupancy
  • Rental Rates Roughly 30% Below Market Averages
  • Situated Close to Alexandria High School
  • Multiple Facility Amenities
  • Upside in Capturing Ancillary Tenant Insurance Income

Investment Overview

Marcus & Millichap is pleased to offer for sale Inner Space Storage located at 502 Twin Bridges Road, Alexandria, Louisiana.   Inner Space Storage sits on roughly 1.8 acres of land and consists of 260 units, amounting to 30,500 net rentable square feet. The facility is currently 95 percent physically occupied and the rental rates are roughly 30 percent below the market average. Inner Space Storage offers several amenities including, but not limited to surveillance cameras and motion sensors throughout the property, an automated security gate, roll up doors, concrete driveways, a manager’s office, and a front desk/lobby area.   The facility is strategically located on the corner of Twin Bridges Road and Lodi Road. Twin Bridges Road connects the multiple surrounding neighborhoods to interstate 165, a main thoroughfare that connects Lake Charles and Monroe to Alexandria. The facility sees a daily traffic count of roughly 6,943 vehicles.   Alexandria is the parish seat of Rapides Parish and is the principal city of the Alexandria metropolitan area (population 153,922). In addition to being situated in a predominantly residential part of town, the facility is located roughly one mile away from Alexandria High School. Alexandria is home to Louisiana College, a top 30 Christian College in the country that offers both undergraduate and graduate degree programs along with competing in 13 sports at the NAIA level. Key economic drivers of Alexandria are manufacturing, healthcare, agriculture, and forestry. A few major employers in the area are Procter and Gamble, Crest Industries, and Plastipak Packaging.   Inner Space Storage should create a stable investment with value-add components. The owner is a locally based investor who is looking to scale back their operations. The lack of ancillary income from tenant insurance and below market rents should provide a new owner multiple avenues to increase future upside. The added use of professional management could further increase returns for a new owner.

Exclusively Listed By

Financing By

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