Mr. Rogers Self Storage | Charleston, WV
Sands Investment Group is Pleased to Present Exclusively For Sale Mr. Rogers Self Storage Industrial Located at 800 Piedmont Road in Charleston, West Virginia. The Facility Was Renovated in 1960 and Features 209 Traditional Units Totaling 25,635 Net Rentable SF. Additionally, the Facility Receives Ancillary Income From U-Haul Rentals, an Established Shredding Business and a Larger Government Tenant. With a Current Physical Occupancy of 83.25%, This Facility Provides a Stabilized Opportunity With Additional Upside Through Driving Economic Occupancy, Rent Increases, Mandating Tenant Insurance, Converting the Facility to Climate Control and Converting Some of the Larger Tenant Spaces in Smaller Self-Storage Units.
- Stabilized Self-Storage Facility in the Heart of Downtown Charleston, WV, Which Has Over 41,160 People Within a 3-Mile Radius
- GSA (Government Tenant) Lease Went Into Effect 6/1/2021 and Will Add $9,700 to Annual Revenue
- Physically Stabilized Facility With an In-Place Cap Rate of 6.63% on Existing Income and a Pro Forma Cap Rate of 10.53%
- Additional Income Being Collected Through Established Paper Shredding Business, Which Requires Little Additional Management to Run
- Facility on Pace to Double U-Haul Revenue From 2020
- Additional Upside Available Through Driving Economic and Physical Occupancy, Mandating Tenant Insurance, Selling Boxes and Locks, Offering 24/7 Access and Converting the Facility to CC
- Nearly $225,000 in Capital Improvements Has Recently Been Invested Into the Facility; Recent Upgrades Include: Leasing Office Renovation, New Motion Activated Lighting, New Electrical/Fire Alarms Throughout, New Window Coverings on the Front of the Building, Brand New Elevator, New Signs and Paint
- Visibility From I-64 Which Sees Over 86,034 VPD
- Charleston, the Capital of West Virginia, is Home to the University of Charleston, Marshall University, Appalachian Power, MATRIC and United Bank
In Cooperation With Scott Reid & ParaSell, Inc., 895 Dove St, Ste 300, Newport Beach, CA 92660 A Licensed West Virginia Broker # 010038-00 – Ph (949) 942-6585
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