INVESTMENT OVERVIEW
The Stop ‘N Lock Self Storage Portfolio is a five-asset, 291,222 NRSF self-storage platform comprising 2,625 units across four Midwest markets: Allen Park, Ann Arbor, Lansing and Toledo. The portfolio is offered at $25,000,000, representing an $85.84/NRSF basis, with in-place rents averaging $0.79/NRSF and occupancy of 81.0% physical and 70.7% economic.
All five assets have operated under consistent local management since inception, resulting in measurable underperformance across pricing, marketing, and lease-up execution. For an institutional or operationally sophisticated acquirer, this disconnect between in-place performance and market potential defines the investment thesis: a clear, data-supported path to NOI growth through occupancy stabilization, systematic rent increases, and professional management implementation across a platform that is difficult to replicate at today’s cost basis.
INVESTMENT HIGHLIGHTS
Small Achieved Rent: Basis Delta: $0.79 Achieved Rent/NRSF | $85.84 PPSF: The blended achieved Rent/NRSF is $0.79 with a transaction PPSF of $85.84. With the assets’ occupancies currently underperforming, this provides a unique opportunity for the portfolios value to exceed the buyer’s basis in a short time post-acquisition.
Quantifiable NOI Upside Through Management Transition The portfolio operates at 70.7% economic occupancy compared to 81.0% physical occupancy. This spread reflects operational inefficiencies rather than market weakness and presents a near-term, executable path to NOI growth under professional management.
Mark-to-Market Opportunity Across All Assets In-place rents average $0.79/NRSF and remain below competitor web asking rates at every location. Rent optimization provides measurable revenue upside without requiring occupancy gains.
University-Driven Demand in Core Markets Ann Arbor, Lansing, and Toledo benefit from recurring academic-year demand cycles driven by major universities, supporting occupancy stability across economic environments.
LEAD BROKER
Brendan Fonts | Vice President of Investments
O: 727.290.2896 | M: 561.385.1136
Bfonts@meridianstoragegroup.com
FL Broker Lic. SL3582777
FACILITY SUMMARY
| OVERVIEW | |
| Properties | 5 |
| Market | Ann Arbor, MI | Allen, Park, MI | Lansing, Ml | Toledo, OH |
| Total Land Area | 19.04 Acres |
| PORTFOLIO SIZE | |
| Total Units | 2,625 Units |
| Total NRSF | 291,222 NRSF |
| Non-Climate NRSF | 279,919 NRSF |
| Heated NRSF | 11,303 NRSF |
| OCCUPANCY | |
| Occupied Units | 1,837 Units |
| Unit Occupancy | 70.0% |
| Occupied SF | 235,776 NRSF |
| SF Occupancy | 81.0% |
| Economic Occupancy | 70.7% |
| INCOME | |
| Gross Potential Storage Income | $263,688 (Monthly) |
| Actual Storage Rental Income | $186,384 (Monthly) |
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