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.
This facility sits on a 5-acre parcel bringing a new investor the opportunity for additional expansion.
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.
This asset, with great location, multiple upsides and solid demographic fundamentals will allow a new investor to add value through management, marketing, tenant insurance and the ability to expand on the property.
|Property Name:||Pontoon Plaza Storage|
|Address:||2901 Pontoon Rd, Granite City, IL 62040|
|Land Size:||5 Acres +/-|
|Total NRSF:||33,192 NRSF|
|Total Units:||278 Units|
|Unit Sizes:||24-320 SF|
|Building Count:||4 Drive-up Buildings|