INVESTMENT OVERVIEW
Pontoon Plaza Storage, situated in Granite City, IL, is a value-add self-storage opportunity with multiple operational upsides. The property consists of 33,192 NRSF among 4 block constructed buildings and includes a total of 278 drive up self-storage units ranging from 24 to 320 square feet. The exterior of the property is fully fenced with paved drive aisles and features an on-site office and apartment for new management. Pontoon Plaza Storage benefits from a prominent location on Pontoon Rd, which sees approximately 9,400 VPD according to FDOT Statistics.
Pontoon Plaza Storage currently maintains a physical occupancy of 32%, giving an investor significant upside through additional lease-up of units and future rental rate management. A new investor will be able to dramatically increase occupancy at higher rental rates by adding management software, creating a website, and incorporating basic advertising tools. Additional revenue can be captured by implementing a comprehensive tenant insurance program, administrative fees and merchandise sales.
Facility Summary
Property Name: Pontoon Plaza Storage
Address: 2901 Pontoon Road, Granite City, IL 62040
County: Madison
Total Land Area: 5 Acres +/-
Total NRSF: 33,192
Total Units: 278 Drive-Up
Unit Sizes: 24-320 SF
Physical Occupancy: 32%
Economic Occupancy: 13%
Buildings: 4 Drive-Up Buildings
Investment Highlights
111 2nd Ave NE, Suite 1006
St. Petersburg, FL 33701
727.219.9051
FL License #CQ1059487