The Mele Group of Marcus & Millichap is pleased to exclusively offer for sale Mehlville Storage in St. Louis, Missouri. St. Louis is the principal component of the St. Louis, Missouri-Illinois Metropolitan Statistical Area. The facility serves the entire South St. Louis County area and provides bountiful amenities for all residential and commercial storage needs. Currently, the facility sustains exceptional economic and physical occupancies of 91.7 percent and 90.5 percent, allowing an investor to profit from the strong demand for self-storage within the region. Management prioritizes cleanliness and security, as the facility offers pristinely-maintained units and state-of-the-art security features for consumer safety. The facility also offers the opportunity to implement a robust tenant insurance program for an additional stream of revenue.
Consisting of 54,099 net rentable square feet on 4.96 acres, the facility maintains traditional self-storage units ranging from 15 square feet to 300 square feet. The property is secured with 24/7 video surveillance, ample lighting and fencing. The facility boasts impeccable construction and convenient ingress and egress to and from the property. Mehlville Storage also offers fantastic visibility from Lemay Ferry Road and Interstate 55. The property maintains two billboard, and recently converted its manager’s apartment storage within the last year, along with the resealing and restriping of the parking area. The facility has an easement with Philips Pipe Line Co. to add a pipeline running through the back of the parcel, which will allow for implementing parking spaces but restricts building construction. The opportunity also allows an investor to capitalize on the facility through reallocating outdoor parking spaces into traditional storage units. In addition to these amenities, an investor has a prime opportunity to capitalize on the subject’s prominent location in the voluminous St. Louis metropolitan area.
Conveniently situated on Lemay Ferry Road in St. Louis, Missouri, Mehlville Storage is perpendicular to Interstate 55 and is surrounded by several large residential communities. The facility is also adjacent to a large multifamily housing facility and multiple national retailers such as Jimmy John's. Interstate 55 demonstrates traffic counts of over 125,000 vehicles per day. Interstate 255 is approximately .05 miles from the subject and maintains a traffic count in excess of 113,000 vehicles per day.
The Mele Group of Marcus & Millichap has been selected to exclusively market for 4 Your Stuff Storage, located in Madison County, Illinois. 4 Your Stuff Storage offers the unique opportunity to acquire a premier facility in a growing market. The subject features a convenient location with quick access to heavily-frequented thoroughfares, as the subject offers quick access to Interstate 270 and State Highway 203, which run perpendicular to the property. The facility is the closest to the neighborhoods directly south and to the north, and is situated approximately eight miles from Southern Illinois University. The subject is currently operating as a storage facility and a flea market which is open on Friday, Saturday, and Sunday. The 12,000-square foot flea market will be completely converted to climate controlled storage prior to the sale.
Presently, the subject consists of 64,645 rentable square feet throughout 10 buildings. The facility will be expanded to include the conversion of the 12,000-square foot flea market to climate-controlled storage. Overall, the facility consists of 229 non-climate-controlled, 27 climate-controlled units, a 1,200-square foot house and a 12,000-square foot industrial building that currently has four retail spaces for a total of 261 units. The facility was last expanded in 2007. Occupancies indicate the growth potential presented upon acquisition with a current physical occupancy of 93 percent. The high occupancies, paired with rental rates hovering above the market average, is indicative of the need for self storage within the region. The property is secured with video surveillance and an electronic gate with keypad entry. Furthermore, there are also 220 solar panels located on the roof of the facility.
Well-located at 3117 West Chain of Rocks Road, this vicinity is surrounded by two frequented roadways, including Interstate 270, witnessing traffic counts of over 55,000 vehicles daily, and State Highway 203, which sustains over 19,000 vehicles daily. Interstate 270 is only .7 miles from the subject, while State Highway 203 is approximately 1.1 miles from the subject. The facility’s entrance is conveniently situated along West Chain of Rocks Road, making for easy ingress and egress to and from the property, and the location also benefits from the convenience of having imminent access to both major roadways in the vicinity. The surrounding area equally serves as both a retail and residential corridor. 4 Your Stuff Storage is within one mile of numerous nationally-recognized tenants and is the closest in proximity to the nearby residential communities.
The Mele Group of Marcus & Millichap has been selected to exclusively market for sale Fort Knox Self Storage in Pompano Beach, Florida. Fort Knox Self Storage signifies a rare opportunity to acquire a cash-flowing self-storage facility in the high-barrier-to-entry Miami Metropolitan Statistical Area. Upon acquisition, the opportunity provides an investor with an asset strategically situated in a location boasting substantial population growth with immediate access to many residential communities. The overall South Florida region is notable for its surging demographic profile, and the surrounding area’s population increase is demonstrative by the number of neighborhoods in proximity.
The facility consists one, fully-climate controlled building with a spacious storefront and canopy. Of 58,612 rentable square feet, the subject features 840 total units. The occupancies showcase upside potential to continue leasing up units with the high population increase; the current physical occupancy is 78.2 percent and the economic occupancy is 66.3 percent. The facility was most recently renovated in May 2018 to include brand new exterior painting and waterproofing to ensure a continued strong presence within the market. Furthermore, the facility also has undergone the repainting and resealing of concrete flooring, the replacement of four HVAC units and features a long-term roof warranty. To generate additional income streams, the subject offers truck rentals as a licensed U-Haul Neighborhood Dealer and a tenant insurance sales program.
Fort Knox Self Storage resides between two of South Florida’s most-traveled thoroughfares, Florida’s Turnpike/State Highway 91 with traffic counts of 100,600+ vehicles per day and Interstate 95 with traffic counts of 233,000+ vehicles per day. The facility’s location within Pompano Beach, referred to as Palm-Aire, is considered a highly-desirable neighborhood of South Florida for its country club lifestyle. Situated just minutes from the Atlantic Ocean with quick highway access, Palm-Aire is lauded as a year-round golfing destination, offering three championship courses. Additionally, the facility is located approximately one mile from the Isle Casino Racing and the Pompano Race Track. Both continue to generate new residents annually with an attractive balance of entertainment, variety of amenities and luxurious residential living among the community’s many villas, condos, townhomes and estate homes, resulting in a strong three-mile population of 127,225 individuals among 50,844 households.
The Mele Group of Marcus & Millichap has been selected to exclusively market for sale Bradley Self Storage in Windsor Locks, Connecticut. Bradley Self Storage represents a rare opportunity to acquire a value-add self-storage property with a clear path to superior investment returns. Improvement opportunities include driving revenue growth through improving physical efficiencies and increasing insurance sales, fee income and rental rates, which have not been adjusted in several years. The facility is projected to yield a proforma, year two capitalization rate of 7.94 percent, paired with a cash-on-cash return of 13.6 percent in this same year. Projected leveraged IRRs also demonstrate the strength of the acquisition at 20.4 percent and 19.9 percent in years five and seven, respectively. The facility is situated just off State Highway 75/Ella Grasso Turnpike on North Street in Windsor Locks, benefiting from its close proximity to Bradley International Airport (BDL). Advantageously, the facility is the closest to the nearby large-scale suburb, serving as the most convenient destination for the surrounding community.
Located at 497 North Street, the property consists of 2.22 acres and three, single-story buildings with excellent drive-up access among non-climate-controlled units. The facility provides 200 total units, totaling 36,300 rentable square feet. The facility is 75.12 percent physically occupied with a 59.68 percent economic occupancy factor, indicating the investment’s strong returns through increased efficiencies, revenue management and rate increases. Facility amenities include perimeter-wide fencing, electronic keypad access control, video surveillance and an on-site office.
Less than 3.4 miles from the subject are the main terminals for Bradley International Airport. Serving over 6,400,000 visitors in 2017, BDL realized an increase of 6.5 percent in year-after-year passenger traffic counts. The property is surrounded by high-income demographics, with an average household income of $102,320 within a one-mile radius. Windsor Locks is situated in Hartford County, a component of the Hartford-West Hartford-East Hartford, Connecticut Metropolitan Statistical Area, commonly referred to as the Greater Hartford region.