Lockbox Storage (Managed)

$4,370,000

Key Information

Cap Rate

5.91%

Tot. SF

52,610

Lot Size

3.72 Acres

Units

496

Type

Self Storage

NOI

$258,050

Highlights

• Dense population with over 69,000 residents in 3-miles and 140,000 people living within 5 miles
• Significant upside upon stabilization, but going-in yield being offered despite being 60% occupied
• Limited Supply with only 5.53 Square Foot per Capita with 3 miles and 8.08 within 5 miles
• Extremely Below Market Rents with 30%+ upside still remaining
• Population Growth of 0.5% per year Since 2020
• Nothing in the self-storage development pipeline within 4-miles