DEAL SUMMARY

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List Price:   $2,400,000

NRSF:         21,568 with Expansion Opportunity

Units:          211

Acres:         1.2

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INVESTMENT HIGHLIGHTS

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PRIME LOCATION // Located right off of Indiana Ave and 14th Street, with car counts exceeding 16,000 vehicles per day

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FAVORABLE SUPPLY INDEX // The 5 mile supply index is 7.0 sqft per person with 1.8 sqft of Climate-Controlled space

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EXPANSION OPPORTUNITY // The property offers immediate expansion potential on the 1st and 4th floors

 

OCCUPANCY OPPORTUNITY // ​A new owner will have the ability to continue the stabilization of the facility

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INVESTMENT SUMMARY

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EquiCap Commercial is pleased to present the Sheboygan Self Storage (The Storage Mall Managed) located at 1234 Kentucky Avenue in Sheboygan, Wisconsin. The property consists of a 68,230-square-foot, four-story building situated on approximately 1.2 acres. Currently, two of the four floors have been converted to self-storage, comprising of 21,568 net rentable square feet spread across 211 interior, heated units that are approximately 55% physically occupied. The asset offers significant upside potential, as the first and fourth floors remain vacant and can be leased

as office space or converted into additional self-storage.

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Current expansion plans show approximately 19,990 net rentable square feet across 94 additional units, generating an estimated $213,444 in incremental annual revenue at stabilization based on current market rates. This expansion would bring the total net rentable square footage to 41,558,

across 307 units. The property is well-equipped with modern features, including keypad access at entry points, three bay doors at the basement level, LED lighting throughout, and 24-hour security camera monitoring. Additionally, the layout allows for the inclusion of an on-site office on the first floor, enhancing operational efficiency and tenant experience.

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Strategically positioned within a favorable and undersupplied trade area, the property benefits from strong demand fundamentals, with less than 7 square feet of self-storage per capita within both the 5- and 10-mile radius. This along with over 85,000 residents in the county supports the continued lease-up and rental rate growth. An investor would benefit from increasing the occupancy and revenue growth through continued stabilization and expansion.

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