Catylist ID:
#30822660
| Catylist Listing ID: | 30822660 |
| Property Subtypes: | Self Storage |
| Building Size (RSF): | 16,375 SF |
| Gross Building Area: | 18,000 SF |
| Gross Land Area: | 52.14 Acres |
| Sale Price: | $1,100,000 |
| Unit Price: | $67.18 PSF |
| Property Use Type: | Investment |
| Building Name: | Westside Self Storage |
| Sale Terms: | Cash to Seller |
| Cap Rate: | 7.0% |
| Average Occupancy Rate: | 65 |
| Last Updated: | 2/2/2023 |
Overview / Comments
|
Westside Self Storage has an area of 52.14 total acres with the front 3 acres zoned C-1.12 and the remaining acreage zoned AG, which leaves room for expansion. The majority of the eastern portion of the property, which includes the primary parcel and the improvements, are in Flood Zone X. A small portion of the western end of the excess land appears to be in Flood Zone AE. The site is predominantly rectangular, with 194' of frontage located directly off the west side of LA Highway 1 South. Heavy Timber is located on the property. The 18,000 square feet storage facility consists of 16,375 rentable square feet and 142 total units. The unit mix consists of 32 climate-controlled and 110 non-climate-controlled storage units. The facility includes fencing, concrete-paved driveways, and is gate-accessed. This opportunity is being offered at $1,100,000.00, which reflects $79.39 per square foot with a year one cap rate of 7%. |
Attachments & Media
Financials
| Finance Data Year | 2022 |
|---|---|
| Real Estate Taxes - Annual($) | $8,704 (Annual) |
| Net Operating Income | $76,659 (Annual) |
| Actual or Proforma Year | Actual |
Additional Details
| Nearest MSA: | Baton Rouge |
| County: | West Baton Rouge |
| Submarket/Township: | 70 |
| Tax ID/APN: | 305300003000 |
| Zoning: | FRONT 3 ACRES: C-1.12, REMAINING ACREAGE: AG |
| Highway Access: | LA Highway 1 South |
| Site Description: | 142 total units on 52.14 acres. 32 climate-controlled and 110 non climate-controlled |
| Total Number of Buildings: | 4 |
| Number of Stories: | 1 |
| Roof Type: | Flat |
| Construction/Siding: | Metal Siding |
| Parking Type: | Surface |
| Zoning Description: | Front 3 acres is zoned C-1.12 and the remaining acreage is zoned AG |
| Lot Frontage: | 194' |
Demographic Statistics
| Proximity: | 1 mile | 3 miles | 5 miles |
|---|---|---|---|
| Total Population: | 2,335 | 29,322 | 91,871 |
| Median Age: | 37.65 | 29.29 | 32.01 |
| Households: | 822 | 12,226 | 37,591 |
| The information presented herein is provided as is, without warranty of any kind. Neither Louisiana Commercial Database, LLC nor Catylist Real Estate Software, Inc. assume any liability for errors or omissions. |
