Backyard Self-Storage Complex

13211 Conneaut Lake Rd

Conneaut Lake, PA 16316

PRICE: $2,850,000GSF: 42,000
CAP RATE: 9.26%LOT SIZE: 5.9 AC
NOI: $246,384UNITS: 224
PROPERTY TYPE: Self-StorageYEAR BUILT: 2019
OCCUPANCY: 65%STATUS: Available
DETAILS:

Brand new self-storage facility for sale. The Backyard Self- Storage Complex is a lucrative asset to add to any portfolio. This newly completed, 5-star facility consists of a total of 224 units, 5.9 acres, a 3-bedroom rental house, barbershop, 1,200sf commercial space, and additional land for expansion. The house and barbershop are both currently leased and have a very secure rental history. This facility is in a high-exposure and convenient location right on Conneaut Lake Road, with an average daily traffic count of over 12,000 cars. The complex is fully fenced, gated entry, offers climate-controlled units, paved roadways, and equipped with a full-service surveillance system. The additional property is approved for 3 more buildings consisting of 137 units. The facility is quickly gaining occupancy and soon to be fully stabilized. Pro- forma cap rate of over 9.26% return at a purchase price of $2,850,000.