JUST LISTED
St. Germain Storage Portfolio
St. Germain, Wisconsin
Exclusively Listed By:
EquiCap Commercial and NAI Pfefferle
DEAL SUMMARY
List Price: $1,750,000
NRSF: 41,005
Units: 169
Acres: 6.326
Locations: 2
INVESTMENT HIGHLIGHTS
PRIME LOCATION // Both sites are located just off HWY 70 with vehicle counts exceeding 5,700 per day. Marquee Sign on HWY 70 as well.
MANAGEMENT OPPORTUNITY // Opportunity for a new owner to automate the overall operation; by automating the rental process further, by utilizing the DaVinci lock system.
ADD VALUE OPPORTUNITY // The current ownership does not charge late fees, admin fees, nor do they offer tenant insurance. These ancillary items can be implemented day one by a new owner. As well as a new owner can add another building to the 7466 location.
RENTAL RATE OPPORTUNITY // With historically high physical occupancy, a new owner will be able to increase the advertised street rents on day one, which will allow them to improve the in place rental rates as well.
MARKETING OPPORTUNITY //
Current ownership does not do any marketing, with it being a lake community, new ownership can add SEO, allowing to keep occupancy high while increasing rental rates.
INVESTMENT SUMMARY
The two property portfolio consists of 169 total units across 9 buildings totaling 41,005 net rentable square feet. The 7466 location sits on 5 acres and is improved by 6 buildings with one of the buildings being used as boat storage, where the customers pull their own boats in and out of the building. The additional land at this location is currently being utilized with parking, but a new owner could build further square footage. This location also includes a rental office, that could be converted back to a unit if a new owner chooses to not utilize it. The 6147 location sits on 1.4 acres and is improved by 3 buildings. Both locations offer LED lighting, and a security camera system for 24 hour monitoring.
Tourism stands as a cornerstone of Saint Germain’s economy, drawing visitors year-round with promises of many outdoor activities. This influx fuels a robust hospitality sector, with accommodations, restaurants, and recreational rentals catering to the needs of travelers. This is why the area has continued growth and success with self storage, all of these activities fuel further need to store summer and winter toys.
The acquisition of St Germain Storage offers a qualified investor with the opportunity to acquire a turn-key two property self-storage portfolio. An investor can benefit by adding value through improving the in place rental rates, adding admin fees, late fees and tenant protection, adding further square footage, and along with improving / automating the overall management process.