Exclusively Listed By:
ParaSell Inc. and
Presented By:
EquiCap Commercial 

DEAL SUMMARY

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List Price:  $4,050,000

NRSF:        61,920

Units:         541 Climate & Non-Climate Controlled 

Acres:        2.5

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INVESTMENT HIGHLIGHTS

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EXCELLENT DEMOS // Three-mile population is 61,080 people while the five-mile population is 102,240 people. Both the three-mile and five-mile populations are scheduled to grow over the next five years, supporting future demand for self storage.

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VALUE ADD OPPORTUNITY // The current occupancy is 75% percent physical with most rates below market average.

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MAJOR JOB GROWTH IN THE REGION // It is estimated that recently announced projects and projects under construction will bring over 80,000 jobs to the area. Even more jobs could be on the horizon in the aircraft and aviation space.

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INVESTMENT SUMMARY

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Common Street Storage, located in Lake Charles Louisiana, offers a mix of 541 climate and non- climate controlled units across 61,920 rentable square feet, spread over two parcels and 2.5 acres. The rental office is situated on Common Street, with an annex site located approximately 150-200 feet south on 15th Street. Both sites are secured with perimeter fencing, controlled access, security lights, and cameras, although some units on 15th Street remain unsecured. The property features a newly renovated and spacious rental office.

Located about 2 miles south of downtown Lake Charles, Common Street Storage is situated in a dense infill area surrounded by commercial, medical office, and residential developments. The population within a 3-mile radius is 61,080, expanding to over 100,000 within 5 miles. Lake Charles, strategically positioned halfway between Houston, TX, and Baton Rouge, LA, is dominated by three major industries:

• Petrochemical: Home to 16 chemical plants, 2 refineries, 1 LNG export facility, and 3 industrial gas processing plants.

• Casino Gambling & Delta Downs Racetrack

• Aircraft Repair and Helicopter Services

Related to these industries, there are currently 16 industrial projects totaling $7.1 billion under construction in the region, with another 15 projects just announced representing $74 billion. These projects/developments are expected to create over 80,000 jobs in the area.

Common Street Storage provides investors with the chance to acquire a mature, cash-flowing asset. Attractive debt options with Interest Only in the mid-6 percent range have been quoted, giving the buyer time to stabilize occupancy and maximize cash flow. With strong management, the property is projected to achieve returns over 12 percent.

Lake Charles, Louisiana

Common Street Storage

OFF MARKET