DEAL SUMMARY

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List Price:  $12,750,000

NRSF:        77,450

Units:         629

​​Acres:        6.18

Locations:  2

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CROWN POINT INVESTMENT HIGHLIGHTS

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STRATEGIC INFILL LOCATION // Within Crown Point, the county seat of Lake County and one of Indiana's strongest suburban growth markets.

 

DIVERSE UNIT MIX // The facility features drive-up units, climate-controlled units, drive up climate-controlled, and parking spaces serving residential and commercial demand.

 

PROVEN OPERATING HISTORY // StorSafe of Crown Point has historically realized strong occupancy and demonstrated rental demand.

 

REVENUE GROWTH OPPORTUNITY // Top Line revenues can be increased through continued lease-up from current occupancy levels into the mid-90% range, in line with stabilized self-storage performance.

 

HIGH BARRIERS TO ENTRY // Northwest Indiana has realized increasing land costs, zoning restrictions, entitlement timelines, and construction costs across the market. 

 

CHICAGO MSA EXPOSURE // Located just minutes from the Illinois border, the property benefits from access to the broader Chicago metropolitan area while offering investors Indiana's business-friendly operating environment and favorable tax structure.

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MUNSTER INVESTMENT HIGHLIGHTS

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STRONG IN-PLACE OCCUPANCY // The facility is currently 89% physically occupied with 273 occupied units and nearly 36,000 occupied square feet, providing stable in-place cash flow and a proven operating history. 

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QUALITY ASSET // The property contains 40,300 NRSF across 306 units and parking spaces, featuring a desirable mix of drive-up, climate-controlled, and parking storage options that appeal to a broad customer base. 

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SIGNIFICANT NOI GROWTH POTENTIAL // Current adjusted NOI is $396,649, with underwriting projecting NOI growth to more than $516,000 within five years through occupancy gains, rental rate increases, and ancillary income growth. 

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AFFLUENT DEMOGRAPHICS // Munster boasts a median household income exceeding $110,000, ranking among the most affluent communities in Northwest Indiana and supporting strong self-storage demand and pricing power. 

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GROWING POPULATION BASE // The Munster market is projected to experience ~4.6% population growth through 2026, continuing to expand the customer base for self-storage demand while benefiting from its proximity to both Chicago and Northwest Indiana employment centers.

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STRONG STORAGE DEMOGRAPHICS // Approximately 13%–14% of Munster households are renter occupied, representing more than 1,300 renter households, while the surrounding trade area includes a substantial population of homeowners, down sizers, and commuters who are primary drivers of self-storage demand. 

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HIGH BARRIERS TO ENTRY // Limited available development sites, increasing construction costs, and restrictive zoning throughout Munster create significant barriers to new self-storage development and support long-term occupancy and rental growth.