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406 SE 45th St, Topeka, KS, 66609

Spacelocks Storage

$1,400,000

Key Information

Cap Rate
9.18%
Tot. SF
18,690
Lot Size
2.65 Acres
Units
184
Type
Self Storage
Occupancy
58%
NOI
$123,875

Highlights

Value-add disposition opportunity with an existing ± 7,000 gross square foot concrete pad ready for expansion , plus additional land for future use.
• Trade area fundamentals include ± 8.38 SF per capita and $62,000 median household income within a 5-mile radius.
No new developments within 5 miles help limit near-term competitive supply.
Economic occupancy of 58% provides meaningful lease-up and income growth potential.
Significant recent capex has been completed, potentially reducing immediate capital needs for new ownership.

Photos

Location

Agents

Broker of Record

Kyle Matthews

License # 239429, #CO00002672 (KS)
Matthews Real Estate Investment Services, Inc
1600 West End Ave, Ste. 1500 Nashville, TN 37203