Zachary Storage Solutions | Self-Storage Facility

Highlights:

• 100% Climate Controlled Facility
• 33,450 Square Feet in Baton Rouge, LA MSA
• 88% Physical Occupancy
• Proximity to Major Employers
• Strong Household Incomes
• Current CAP: 6.19%
• Pro Forma CAP: 7.10%

Description:

Zachary Storage Solutions is a 33,450 net rentable square foot self-storage facility situated on approximately one and one half acres in Zachary Louisiana, a close suburb of Baton Rouge. The subject property is a one hundred percent climate controlled facility originally built in 2004 and subsequently expanded in 2006. The unit mix includes 282 units between 25 and 200 square feet in size. Amenities at this property include, but are not limited to: digital video surveillance, keypad entry, individual door alarms, an on-site rental office and two covered loading/unloading zones. The rear loading zone is serviced by a driveway from the front of the facility and from a second driveway from Old Scenic Highway 964. In addition, the facility has a geothermal heating and cooling system, thereby helping to reduce utilities.

Strategically located only 14 miles north of downtown Baton Rouge and a mere 15 minutes from the Baton Rouge Metropolitan Airport (BTR), this bedroom community has attracted some major employers such as Georgia-Pacific, BASF, ExxonMobil, Great Southern Galvanizing, Entergy and Lane Regional Medical Center. Having the number one public school system in Louisiana for the past thirteen years, one of the highest household incomes, the lowest crime and the lowest poverty rates in the state are some of the obvious reasons businesses and families choose to nest in this northern community.

Offered at $4,200,000 which represents a 6.19% CAP rate, this asset, presents a unique opportunity for an investor to acquire a cash flowing self-storage facility in the Baton Rouge area. Zachary Storage Solutions is currently 88 percent occupied in terms of unit count, and 90 percent economically occupied. This acquisition offers the benefits of cash flow from day one of operations as well as the ability to add value to the facility through improved management and reducing expenses. By eliminating the corporate style management and managing the facility with one full time employee at $15 per hour, a new owner can increase the marketing budget and still improve the CAP rate to seven percent in the Pro Forma.

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