Pontoon Plaza Storage

33,192 NRSF | 278 Units | St. Louis MSA

Under LOI

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

  • Situated within the St. Louis, MO MSA 
  • Strong market brings opportunity to lease up the facility at much higher rates thus providing huge increases in GPI 
  • Convenient location and excellent visibility from Pontoon Road 
  • Ability to enhance revenue through ancillary income sources such as tenant insurance, retail sales and fees 
  • Huge management upside potential