Hazelhurst Self Storage
Exclusively Listed By:
EquiCap Commercial and NAI Pfefferle
List Price: $350,000
PRIME LOCATION // Located just off Hwy 51 with vehicle counts exceeding 7,000 per day. Marquee sign on Hwy 51.
EXPANSION OPPORTUNITY // The facility sits on over 13 acres, allowing for a new owner to expand the facility significantly from the current square footage. The purchase price offered includes the cost of the additional acres, but still allowing the new owner to have cash flow while developing the remainder of the property.
MANAGEMENT OPPORTUNITY // Opportunity for a new owner to automate the overall operation; by adding technology (management software),automating the rental process, accepting credit cards, and utilizing the DaVinci lock system.
ADD VALUE OPPORTUNITY // The current ownership does not charge admin fees, nor do they offer tenant insurance.
RENTAL RATE OPPORTUNITY // A new owner will be able to push in place rental rates on day one. Currently the scheduled rents are $4,860/year behind the street (advertised) rents.
The Hazelhurst Self Storage Facility consists of 30 drive up units across 1 building totaling 8,250 square feet. Located right off Hwy 51, with 7,093 vehicles per day, allowing easy access to the local and vacation rental residents.
Hazelhurst (Minocqua area) and the neighboring communities which conveniently sit some three to six hours from Madison, Milwaukee, and Chicago — are filled with over 2,300 sparkling blue lakes, streams, and ponds. They are also snuggled into the mighty Northern Highland-American Legion State Forest. This means guests can easily enjoy an incredible array of activities, both on the shore and on the water. Which gives even more reason to utilize the land for expansion.
The acquisition of the Hazelhurst Self Storage facility offers a qualified investor with the opportunity to acquire a turn-key self-storage facility. An investor can benefit by adding value through improving the in place rental rates, adding admin fees, late fees and tenant insurance, along with adding technology to manage the operation. Furthermore, the property sits on 13 acres, giving the new owner the opportunity to expand the operation significantly.