West O Storage

Industrial for Sale
Catylist Listing ID: 30632202
Property Subtypes: Self Storage
Building Size (RSF): 21,945 SF
Gross Land Area: 1.41 Acres
Sale Price: $1,450,000
Unit Price: $66.07 PSF
Property Use Type: Investment, Business
Building Name: West O Storage
Usable Size (USF): 21,945 SF
Sale Terms: Cash to Seller
Cap Rate: 6.0%
Last Updated: 10/19/2020

Overview / Comments

Turnkey Garage-Self Storage Facility in Lincoln, Nebraska, built 2001, equipped to handle storage of personal household items, commercial equipment and vehicles.

Great easy-to-manage investment income opportunity, little to no maintenance, strong cash-flow already in place, CAP 6%. Current low market rental fees could be increased to yield $108K/year, CAP 6.75%

Attachments & Media

Financials

Finance Data Year 2020
Real Estate Taxes - Annual($) $13,010 (Annual)

Additional Details

Nearest MSA: Lincoln
County: Lancaster
Taxing Authority: Lancaster County
Tax ID/APN: 10-28-110-003-000
Zoning: H3-HIGHWAY INDUSTRIAL COMMERCIAL DISTRICT
Property Located Between: Off West O, near Hwy 77 intersection.
Highway Access: Moments from i-80 exit. 2 blocks off Hwy 6.
Airports: Lincoln Municipal
Site Description: Three buildings plus outside storage space (104 total units). High occupancy (91%+), low turnover units. NOI $96K/year. Sizes include 5x10, 10x10, 10x15, 10x20, 10x25, 10x30, individual and outdoor storage.
Area Description: Keypad security fence on perimeter, West O Storage is near neighborhoods of apartments and townhouses ready in demand of self-storage. Nestled in a secure industrial area, lake area housing is less than 1/2 mile away.
Total Number of Buildings: 3
Number of Stories: 1
Property Condition: Good
Year Built: 2001
Construction/Siding: Wood Frame
Exterior Description: Metal siding on wood frame. Stable, secure overhead doors. Recent repavement near structures.
Legal Description: MANCHESTER HEIGHTS, BLOCK 3, Lot 1 - 6, & VAC W N ST ADJ

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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 3,594 62,992 155,210
Median Age: 27.75 28.9 31.47
Households: 1,389 22,111 60,697
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