Geneva Life Storage (MANAGED)

This Life Storage (Managed) self-storage asset is a very well-maintained Class B property located in the strong secondary market, Geneva, Ohio. This facility was bought and turned around by implementing professional management. Since implementing sophisticated management, the property has experienced incredible revenue and occupancy growth over the last 12 months with plenty of runway for a new operator to continue that trajectory. 

The property consists of 328 standard drive up units for a total of 45,600 NRSF. This facility is well on its way to being fully stabilized as current physical and economic occupancies are 81.1% and 62.9%, respectively. These figures represent in place tenants at Actual Occupied monthly rents of $23,546 with a Gross Potential of $37,426.   

This is the premier self-storage facility in Geneva with the nearest competitors lacking the quality and service this site has. The facility has all state-of-the-art features and technology including 24/7 video surveillance, automatic gate entry with extended hours, and online rental offerings. Furthermore, the physical location of the property benefits from over 11,000 VPD and sits across the street from one of the largest new development projects in Geneva called SPIRE Academy which is a massive boarding school for national and international student athletes.