• Very well-maintained facility achieving $2.48 per foot rental rates for the self-storage units
• Room to improve physical occupancy and increase revenue quickly. Current advertising spend is only $4,433 per year
• Rare NNN lease with a Top-3 Propane Company in the U.S. that runs for another 56 years with annual increases. Property can be purchased separately from the storage
• All of the non-climate units have interior lights and electrical outlets. Most of the tenants are contractors or small businesses that are willing to pay aggressive rents. A lot of these tenants also rent the parking spaces in front of these units
• Mom-and-pop ownership and management for the last 20 years
• Dense surrounding population with over 155,000 people living within a 3-mile radius of the property
• Strong population growth projected at 1.10% in a 1-mile radius and 1.20% in a 3-mile radius. Total population in a 3-mile radius is projected at over 165,000 people by 2030
• Solid income levels at $88k per year in average household income in a 3-mile and $91k in a 5-mile
• Massive amounts of residential development underway within 5-miles totaling over 21,000 new units and $7B+ in value
• Huge depreciation opportunity when factoring in the storage, office building, and the propane tanks