DEAL SUMMARY

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List Price:   $575,000

NRSF:         9,000

Units:          63

Acres:         0.659

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INVESTMENT HIGHLIGHTS

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PRIME LOCATION // Strategically located just off Douglas Avenue / State Highway 32, a principal north-south arterial connecting Racine with the greater Milwaukee metropolitan area. The Douglas Avenue corridor carries approximately 14,000 vehicles per day near the Property, providing excellent accessibility and exposure within a densely populated residential and commercial trade area.

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STRONG DEMOGRAPHICS // Located within a dense and established Racine trade area with approximately 77,000 residents within 3 miles and more than 123,000 residents within 5 miles, providing a substantial residential customer base to support long-term self-storage demand. 

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STRONG IN-PLACE OCCUPANCY // The Property is currently 89% occupied by unit count and 93.3% occupied by rentable square footage, demonstrating strong existing demand across its 63 drive-up units. 

 

VALUE-ADD / REVENUE GROWTH // A new owner has multiple avenues to enhance revenue through rental-rate growth and the implementation of tenant insurance, administrative fees, and late fees. The financial analysis projects NOI increasing from approximately $41,256 currently to $57,441 by Year Five, providing a clear path toward increased cash flow and value creation. 

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OPERATIONAL UPSIDE // Opportunity for a new owner to modernize operations through the implementation of a dedicated website, online rentals and payments, automated access technology, and enhanced digital marketing. Combined with professional revenue management and ancillary income programs, these improvements could streamline day-to-day operations, improve the customer experience, and drive additional revenue with limited on-site management requirements.

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INVESTMENT SUMMARY

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EquiCap Commercial and Twelve2 Commercial Group proudly present the opportunity to acquire 1518 Layard Avenue in Racine, Wisconsin, a well-established drive-up self-storage facility offering strong in-place occupancy and a compelling path to increased cash flow. The Property consists of 63 drive-up units totaling approximately 9,000 net rentable square feet, with unit sizes ranging from 5x10 to 10x30. The facility is currently 89% occupied by unit count and 93.3% occupied by rentable square footage, demonstrating strong existing demand across the unit mix. 

 

The Property is positioned within the established Racine market and provides investors with a highly manageable storage asset supported by a strong existing tenant base. Current gross potential rent is approximately $75,120 annually, while the facility generates approximately $64,695 in rental income after economic vacancy. The financial analysis identifies additional revenue opportunities through the implementation of tenant insurance, administrative fees, late fees, and professional revenue management, providing multiple avenues for a new owner to enhance operating performance. 

 

The opportunity is particularly compelling for an investor seeking a smaller value-add acquisition with meaningful income growth potential. The pro forma projects total income increasing to approximately $75,167 by Year Two, with NOI growing from an adjusted current level of approximately $41,256 to $48,355 over the same period. Longer-term projections show NOI reaching approximately $57,441 by Year Five, driven by rental growth and additional ancillary income. Combined with strong physical occupancy and opportunities to modernize operations and maximize revenue per square foot, the Property offers a clear path toward increased cash flow and long-term value creation.

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