for sale anderson mini storage · affordable storage option for portland residents. anderson mini...
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200 SW Market Street. Suite 200 Portland, OR 97201
Main +1 503 279 1700 cushmanwakefield.com
Jim Lewis+1 503 279 1743
[email protected] in Oregon and Washington
Turnkey Storage Opportunity Excellent Vancouver, WA Location | Price $1,200,000
SELF STORAGE INVESTMENT OPPORTUNITY
Anderson Mini Storage includes 66 storage units totaling 5,705 rentable square feet and 9 parking spaces on a 14,933 SF site. The property recently underwent substantial renovation, giving it a like-new look and positioning it for further revenue increases.
The property is strategically located in Vancouver, Washington near the fast-growing downtown Vancouver area. The population within 3-miles of the property is 71,121 and is projected to grow 8%. In the immediate downtown area there are 176 apartment units under construction and another 736 units planned or proposed.
The property benefits from its proximity to North Portland, providing a more affordable storage option for Portland residents. Anderson Mini Storage is the closest Washington facility to North Portland and derives a significant portion of its business from these residents.
The overall occupancy at the property is currently 100% and is consistently above 95%. The average tenant tenure is over 2.5 years. The high occupancy and long tenure have provided the property with a history of consistent revenue growth.
The property offers an investor an easy-to-keep-full, turn-key storage facility in an excellent location with strong demand characteristics.
FOR SALE
ANDERSON MINI STORAGE 1720 E 4th Street | Vancouver, WA 98661
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
200 SW Market Street Suite 200 Portland, OR 97201 Main +1 503 279 1700 cushmanwakefield.com
Jim LewisSenior Director, Capital Markets +1 503 279 1743 [email protected] in Oregon and Washington
PROPERTY SUMMARY INVESTMENT HIGHLIGHTS
Location1720 E 4th Street
Vancouver, WA 98661
County Clark
Site Area 0.34 acres (14,933 square feet)
Building Area 5,705 rentable square feet
Total Units 66 self storage units and 9 parking spaces
Year Built 1986
Asking Price $1,200,000
Cap Rate 7% proforma Year 1
• Substantial recent renovations
• Strong area growth and limited competition
• Revenue upside through increasing rent on existing
tenants
• Located in the Portland-Vancouver Metro area
• Stable cash flow and long-term tenancy
• Simplified operations with easy management
• Cost effective and convenient location for North
Portland residents
• All highly desirable drive-up units
• The property is priced at $1,200,000, which is a 7%
cap rate on estimated Year 1 net operating income
For additional information, please contact:
Cushman & Wakefield Copyright 2015. No warranty or representation, express or implied, is made to the accuracy or completeness of the information contained herein, and same is submitted subject to errors, omissions, change of price, rental or other conditions, withdrawal without notice, and to any special listing conditions imposed by the property owner(s). As applicable, we make no representation as to the condition of the property (or properties) in question.
FOR SALE
ANDERSON MINI STORAGE 1720 E 4th Street | Vancouver, WA 98661