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Self-Storage Facility

Alpha Storage

252 Wildwood Road, Hammond, IN 46324

Listing Price: $7,300,000

Cap Rate
5.50%
Number of Units
575
Occupancy
31.7%
Rentable SF
65,213
Price/Rentable SF
$111.94
Year Built
1918

Investment Overview

Alpha Storage is housed in the historic Staube Piano factory building near downtown Hammond, Indiana. Hammond is enjoying a renaissance under new leadership. A South Shore Line railway extension is planned to connect Hammond and other Indiana commuters to the city of Chicago. The owners of Alpha Storage have performed a complete rehabilitation of the Staube building including new roofs, heating systems and an upgraded elevator. The 150,000-square foot building currently contains 575 heated self-storage units and vehicle parking spaces over 65,213 net-rentable square feet. The operation also includes acres of exterior space which is leased to other business and 93 vehicle parking stalls. The site also collects $65,040 of cell tower income, with 5G upside via direct access to as many as seven cellular-communications carriers. The Alpha Storage site offers substantial indoor and outdoor expansion potential, perhaps doubling the current capacity of services.

Investment Highlights

  • Prime Hammond Location, Conveniently Located Near Planned Commuter Railway Station
  • Vintage Rehabilitated Building With Substantial Room for Expansion
  • 28.58 Percent Year-Five Leveraged Internal Rate of Return
  • Features Abundant Inside and Outside Parking
  • Cell Tower Revenue Streams
  • Secure Facility with Brand New Fencing

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s) IN: RB14034355

    Indiana

Self-Storage Facility

Alpha Storage

Listing Price: $7,300,000

Cap Rate
5.50%
Number of Units
575
Occupancy
31.7%
Rentable SF
65,213
Price/Rentable SF
$111.94
Year Built
1918

Investment Highlights

  • Prime Hammond Location, Conveniently Located Near Planned Commuter Railway Station
  • Vintage Rehabilitated Building With Substantial Room for Expansion
  • 28.58 Percent Year-Five Leveraged Internal Rate of Return
  • Features Abundant Inside and Outside Parking
  • Cell Tower Revenue Streams
  • Secure Facility with Brand New Fencing

Investment Overview

Alpha Storage is housed in the historic Staube Piano factory building near downtown Hammond, Indiana. Hammond is enjoying a renaissance under new leadership. A South Shore Line railway extension is planned to connect Hammond and other Indiana commuters to the city of Chicago. The owners of Alpha Storage have performed a complete rehabilitation of the Staube building including new roofs, heating systems and an upgraded elevator. The 150,000-square foot building currently contains 575 heated self-storage units and vehicle parking spaces over 65,213 net-rentable square feet. The operation also includes acres of exterior space which is leased to other business and 93 vehicle parking stalls. The site also collects $65,040 of cell tower income, with 5G upside via direct access to as many as seven cellular-communications carriers. The Alpha Storage site offers substantial indoor and outdoor expansion potential, perhaps doubling the current capacity of services.

Exclusively Listed By

Broker of Record

  • Josh Caruana

    First Vice President/District Manager

    (317) 218-5300

    License(s): IN: RB14034355

    Indiana

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