Exclusively Listed By:
EquiCap Commercial and The Dickman Company

DEAL SUMMARY

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List Price:  $2,600,000

NRSF:        43,956

Units:         94

Acres:        2.768

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INVESTMENT SUMMARY

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PRIME LOCATION // Located right on Mill Road, just south of Green Bay Road, with a car count of 6,900 vehicles per day.

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INCOME OPPORTUNITY // The current 10x10 and 10x20 rents / street rents are below the market. Also, a new owner has the opportunity to rent out the other large storage unit (30x61), which can bring in an additional $1500/month. These two opportunities account for ~$34,320 of the economic vacancy.

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OPERATIONS // A new owner will be able to continue utilizing the automation the current owner has put into place, allowing customers to pay online, rent online, and rent a unit without even meeting anyone. A new owner can increase their NOI by continuing to push the storage rents and industrial tenant rents, along with reducing the current expense burden on the facility.

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CONVERSION OPPORTUNITY // The 12,000 sqft warehouse is currently being used for heated RV / Boat storage(The 12x32 Units on the Unit Mix Page). This building can be converted to more storage units or this it can be rented out to an industrial tenant with a long term lease. This gives a new owner options if they want to further maximize the revenue for the space.

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INVESTMENT HIGHLIGHTS

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EquiCap Commercial LLC and The Dickman Company Inc. have been selected to exclusively offer for sale,

Glendale Indoor Storage located in the town of Glendale, in Milwaukee, WI.

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Glendale Indoor Storage has been a fixture in the Milwaukee marketplace, proudly serving the needs of customers for over 25 years. Situated on one parcel of around 2.768 acres of land, the improvements consist of 9 buildings that house 94 units mixed between self storage drive up, industrial tenants, and office space. The self storage drive up units consist of 4 of the 9 buildings, where 68 of the units are typical drive up units, and 2 of the units are maxi / contractor units. The 12,000 sqft building is currently being offered as 19 heated RV / Boat parking spaces, but could easily be converted to additional storage or rented out to a long term industrial tenant if a new owner chooses to do so. The remainder of the 4 other buildings are rented out to long term industrial tenants, with rent increases throughout each year. The industrial leases are provided in the deal vault. These buildings and units total 43,956 net rentable square feet, situated on asphalt and concrete drive aisles that is partially fenced with a gate that can be motorized. It also provides motion triggered cameras and censored lighting throughout the property.

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Glendale Indoor Storage represents an excellent opportunity to purchase a well-located, add-value asset with in place cash flow. Upside can be achieved through the implementation of an SEO advertising plan, capitalizing on the economic vacancy, below market rents, renting out the contractor unit and potentially converting the 12,000 sqft building into additional storage.

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