MINI- STORAGE FACILITY-SOUTHSIDE LAF,LA.
Industrial
for Sale
| Catylist Listing ID: |
30508098 |
| Property Subtypes: |
Self Storage
|
| Building Size (RSF): |
22,450 SF
|
| Gross Land Area: |
2.10 Acres
|
| Sale Price: |
$699,000 |
| Unit Price: |
$31.14 PSF |
| Ceiling: |
9.5 ft. |
| Property Use Type: |
Investment, Business |
| Building Name: |
PART CLIMATE- CONTROLLED STORAGE |
| Usable Size (USF): |
22,450 SF |
| Sale Terms: |
Cash to Seller |
| Cap Rate: |
6.0% |
| Average Occupancy Rate: |
45 |
| Last Updated: |
9/13/2020 |
Overview / Comments
|
BUILDINGS ARE A-B-C-D-E & F (E&F ARE NEWEST AND CLIMATE CONTROLLED) CURRENT OCCUPANCY IS 45%––- @ 6.9 % CAP (A CHANGE FROM THE 6% CAP SINCE PRICE HAS CHANGED (EFF 2/12/2020) FROM $ 788,000 TO $ 699,000 –-AND PROJECTIONS ARE 80% OCCUPANCY WITHIN ONE YEAR, WITH ADVERTISING OR PROMOTION OF ANY KIND AND ONCE LEVEL IS ACHIEVED A 10.8% CAP IS REALISTIC– EXTRA VACANT LOTS WITHIN DEVELOPMENT EXIST FOR BOAT OR RV STORAGE POSSIBILITIES,WHICH WOULD INCREASE CAP EVEN FURTHER.–ALTHOUGH ONLY A SMALL PART IS IN A FLOOD ZONE THE PROPERTY DID FLOOD IN 2016.––OF THE 22,450SF ABOUT 5,200 IS CLIMATE CONTROLLED COMPRISED OF BUILDINGS E & F. BUILT IN 2009 & 2012 RESPECTIVELY. ALL OTHERS ARE ABOUT 24 YRS OLD.-UPON CONFIDENTIALITY EXECUTION WE FURNISH, OCCUPANCY LAYOUT OF SPACE & FINANCIAL INFO & OTHER.–AVAILABLE IN GLOBO WITH METAL BUILDING @7424 JOHNSTON UNDER LACDB#30556407 FOR $ 1,049,000
|
Additional Details
| Nearest MSA: |
Lafayette |
| County: |
Lafayette |
| Submarket/Township: |
G2 |
| Taxing Authority: |
LAFAYETTE PAR ASSESSOR |
| Tax ID/APN: |
6094918 |
| Zoning: |
UNZ -LAF PAR LAND USE ORD |
| Property Located Between: |
BETWEEN MAURICE & LAFAYETTE-MAP INTENTIONALLY INACCURATE |
| Highway Access: |
DIVIDED HIGHWAY |
| Airports: |
LAF REGIONAL IS ABOUT 25 MINS AWAY |
| Site Description: |
EXISTING MINI-STORAGE WITHIN SOME CLIMATE CONTROLLED AND PLENTY OF UPSIDE AS TO INCREASING CAP RATE OVER SHORT TIME |
| Area Description: |
VISIBLE HIGH TRAFFIC (25K) SUBURBAN SITE |
| Tenancy: |
Multiple Tenants |
| Total Number of Buildings: |
6 |
| Number of Stories: |
1 |
| Typical SF / Floor: |
4,200 SF |
| Property Condition: |
Good |
| Year Built: |
1995 |
| Year Renovated: |
2012 |
| Roof Type: |
Gable |
| Construction/Siding: |
Metal Siding |
| Exterior Description: |
LIMESTONE AND CONRETE DRIVES |
| Parking Type: |
Surface |
| Parking Description: |
CONRETE OR LIMESTON |
| Eave Height: |
9.5 |
| Air Conditioning: |
Evaporative Cooler |
| Lighting: |
Fluorescent, Incandescent |
| Internet Access: |
Cable |
| Interior Description: |
METAL AND CONCRETE |
| Zoning Description: |
UNZONED WITH LAND-USE ORDINANCE IN THE PARISH |
| Part of Planned Development?: |
Yes |
| Lot Frontage: |
198 |
| Lot Depth: |
480 |
| Water Service: |
Municipal |
| Sewer Type: |
None |
| Easements: |
Utilities |
| Easements Description: |
TYPICAL |
| Land Ownership: |
FEE SIMPLE |
| Legal Description: |
CONFIDENTIAL 2.1 ACRES |
Demographic Statistics
| Proximity: |
1 mile |
3 miles |
5 miles |
| Total Population: |
2,978 |
20,802 |
72,087 |
| Median Age: |
35.02 |
34.26 |
35.24 |
| Households: |
1,058 |
7,728 |
28,793 |
|
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