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Self-Storage Facility

Rend Lake Storage

1700 N Main St, Benton, IL 62812

Listing Price: $1,050,000

Cap Rate
7.68%
Number of Units
318
Occupancy
74.0%
Rentable SF
42,051
Price/Rentable SF
$24.97
Year Built
1985

Investment Overview

The Williams Storage Group of Marcus and Millichap is honored to present for sale Rend Lake Self Storage located at 1700 North Main Street and 500 South Main in Benton, Illinois. The two storage facilities total 261 non-climate units, 13 climate-controlled units and 44 parking spaces for a total of 318 units within 42,051 total rentable square feet covering approximately 4.55 total acres. The Rend Lake Storage facility located at 1700 North Main in Benton consists of 4 buildings: 3 non-climate storage facilities and a former bowling alley which was converted into storage in 2013. This site includes climate controlled storage and outside enclosed boat parking. Amenities include professional storage software, updated security system with 6 cameras (2020 update) and a professional management office. Rend Lake Storage located at 500 South Main includes non-climate controlled storage and approximately .5 acres cleared ground available for expansion. The 500 South Main facility is located in an opportunity zone. Located in Southern Illinois, Benton is the county seat of Franklin County, Illinois. Benton lies approximately 100 miles southeast of St. Louis and 85 miles west of Evansville, Indiana. Benton’s population is 9,021 in a 3 mile radius and 10,378 in a 5 mile radius. Industry in Benton includes mining, retail and healthcare. Benton is home to Rend Lake, the second largest man-made lake in Illinois, attracting over 3 Million visitors a year, according to Franklin County Economic Development. The average household income in Benton is $55,208 in a 3 mile radius and $56,148 in a 5 mile radius. Listed for $1,050,000, Rend Lake Self Storage offers the ability to acquire a cash-flowing storage facility with historically stabilized income. An investor can enjoy value-add opportunities through existing and street rent increases and by introducing additional income streams such as tenant insurance and administration fees. As of October 2021, Rend Lake Self Storage was 71 percent physically occupied.

Investment Highlights

  • • Two Properties Located 2.4 Miles Apart in Benton, Illinois
  • • 42,051 Total Rentable Square Feet
  • • Value Add Expansion Opportunities with Over 4.55 Total Acres
  • • Year 1 Cap Rate 9.36 Percent
  • • Year 1 Cash-on-Cash of 18.45 Percent

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s) IL: 471.011175

    Illinois

Self-Storage Facility

Rend Lake Storage

Listing Price: $1,050,000

Cap Rate
7.68%
Number of Units
318
Occupancy
74.0%
Rentable SF
42,051
Price/Rentable SF
$24.97
Year Built
1985

Investment Highlights

  • • Two Properties Located 2.4 Miles Apart in Benton, Illinois
  • • 42,051 Total Rentable Square Feet
  • • Value Add Expansion Opportunities with Over 4.55 Total Acres
  • • Year 1 Cap Rate 9.36 Percent
  • • Year 1 Cash-on-Cash of 18.45 Percent

Investment Overview

The Williams Storage Group of Marcus and Millichap is honored to present for sale Rend Lake Self Storage located at 1700 North Main Street and 500 South Main in Benton, Illinois. The two storage facilities total 261 non-climate units, 13 climate-controlled units and 44 parking spaces for a total of 318 units within 42,051 total rentable square feet covering approximately 4.55 total acres. The Rend Lake Storage facility located at 1700 North Main in Benton consists of 4 buildings: 3 non-climate storage facilities and a former bowling alley which was converted into storage in 2013. This site includes climate controlled storage and outside enclosed boat parking. Amenities include professional storage software, updated security system with 6 cameras (2020 update) and a professional management office. Rend Lake Storage located at 500 South Main includes non-climate controlled storage and approximately .5 acres cleared ground available for expansion. The 500 South Main facility is located in an opportunity zone. Located in Southern Illinois, Benton is the county seat of Franklin County, Illinois. Benton lies approximately 100 miles southeast of St. Louis and 85 miles west of Evansville, Indiana. Benton’s population is 9,021 in a 3 mile radius and 10,378 in a 5 mile radius. Industry in Benton includes mining, retail and healthcare. Benton is home to Rend Lake, the second largest man-made lake in Illinois, attracting over 3 Million visitors a year, according to Franklin County Economic Development. The average household income in Benton is $55,208 in a 3 mile radius and $56,148 in a 5 mile radius. Listed for $1,050,000, Rend Lake Self Storage offers the ability to acquire a cash-flowing storage facility with historically stabilized income. An investor can enjoy value-add opportunities through existing and street rent increases and by introducing additional income streams such as tenant insurance and administration fees. As of October 2021, Rend Lake Self Storage was 71 percent physically occupied.

Exclusively Listed By

Broker of Record

  • Steven D. Weinstock

    First Vice President / Regional Manager / Designated Managing Broker

    (630) 570-2250

    License(s): IL: 471.011175

    Illinois

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