Little Rock MSA Portfolio

47,204 NRSF | 305 Units | Offering Price: $2,850,000

Under LOI

INVESTMENT OVERVIEW

Deer Creek Mini Storage & Highway 165 Storage are well-maintained facilities consisting of 47,204 NRSF among 305 Climate and Non-Climate units ranging from 40 to 300 square feet across seven single-story buildings and is situated on approximately 6.16 acres of land. The facility features secure gated access, an on-site office, strong road visibility, and security cameras throughout. Currently, the facilities are 91% physically occupied with an 87% economic occupancy.

The facilities are located in high-income areas, with the average income for a 3-mile radius for Deer Creek Mini Storage being $94,843 and Highway 165 Storage is $98,600. Deer Creek Mini Storage also boasts a 14.9% population increase in a 5-mile radius since 2010, with Highway 165 having a 10.6% population increase. Both facilities are located with prominent signage and road visibility, with Deer Creek Mini Storage receiving daily traffic counts in excess of 26,400 and Highway 165 Storage receiving daily traffic counts in excess of 6,900. The facility is priced at $2,850,000 which equates to $60 PSF and a cap rate of 7.33% in year 2.

Facility Summary

 

Property Name Deer Creek & Highway 165 Storage
Address: 12 Douglas Road, Cabot, AR 72023

10056 US-165, Scott, AR 72142

County: Lonoke
Land Area: 6.16 Acres +/-
Total NRSF: 47, 204
Total Units: 305 (Climate & Non-Climate)
Unit Sizes: 40-300 SF
Physical Occupancy: 91%
Economic Occupancy: 87%
Buildings: 7 Buildings

 

Investment Highlights

  • Expansion room at Cabot facility
  • High road visibility and traffic for both locations
  • 3 Mile Radius Average Incomes – 94,843 & 98,600
  • 20 Climate Units & 266 Non-Climate Units
  • 18 Parking Spaces
  • Noke Locks on All Gates & Roll Door Units