Tangi Store All

33,150 NRSF | 271 Units, 25 Boat/RV Spaces | Hammond, LA

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INVESTMENT OVERVIEW

Tangi Store All is located in Hammond, LA and consists of 33,150 NRSF. The property was originally built in 1965 and contains 271 drive-up self-storage units. In addition to the storage, the property has space for up to 25 boat & RV rentals and brings in additional revenue through the cell tower located on-site.

The exterior of the property is fully fenced with paved drive aisles and is heavily equipped with motion-activated lights and 29 security cameras. There is an office on-site to accommodate a new management team. For an investor who envisions the property as an annex facility, this space can also be a commercial lease option, which will increase revenue even further.

Tangi Store All is an owner-managed facility that flaunts significant upside through future rental rate management. At 94% physical occupancy, the property’s effective rate remains well below its competitors in the market. An investor will benefit immensely by raising rates to meet the market average and implementing additional income streams such as tenant insurance and merchandise sales.

Facility Summary

Property Name:                Tangi Store All

Address:                             43216 South Holly Street, Hammond, LA 70403

County:                               Tangipahoa Parish

Total Land Area:                3 Acres +/-

Total NRSF:                        33,150 NRSF

Total Units:                        271

Total Parking:                    25 Spaces

Unit Sizes:                          50-600 SF

Physical Occupancy:       94%

Economic Occupancy:    89%

Buildings:                         5 Drive-Up

Non-Storage:                   Cell Tower – 1 Tenant

Investment Highlights

  • Updated Call for Offers: February 10, 2022
  • Physical occupancy of 94%, proving demand in the market & ability to raise rental rates
  • Significant up- side through rate management. In place rates are well below competitors within 3 miles
  • Additional revenue through 45+ year cell tower lease
  • Convenient location and excellent visibility from corner of E. Minnesota Park Road and S. Holly Street
  • Opportunity to enhance revenue through new management & operations