UNDER CONTRACT

StorSafe of Cary
Cary, Illinois (Chicago MSA)

Exclusively Listed By:
EquiCap Commercial

DEAL SUMMARY

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List Price:   $2,650,000

NRSF:        25,800 + Outdoor Parking Spots

Units:         162 Self Storage & 99 Parking Spaces

Acres:         5.61 Acres

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INVESTMENT HIGHLIGHTS

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PRIME LOCATION // Located in a densely populated market with car counts exceeding 25K vehicles per day.

EXCELLENT DEMOS // The three-mile trade area boasts 52K+ people, 19K+ households, while the five- mile population is 134K+ and 49K+ households.

FAVORABLE SUPPLY INDEX // The five-mile supply index is 7.5 sq feet per capita, with 4.84 square feet being non-climate-controlled supply.

STRONG MARKET RENTS // Yardi reports market average rental rates for 10x10 drive up units at $1.08/foot.

OUTDOOR PARKING // Property is zoned to allow for outdoor parking. Current owners have allocated 99 parking spaces in their software. There is ample room for more parking or portable units

EXPANSION OPPORTUNITY // Opportunity to expand on the 5.6-acre site.

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INVESTMENT SUMMARY

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Equicap Commercial is pleased to present StoreSafe of Cary, located along busy IL-31 in Cary, Illinois (McHenry County). StorSafe of Cary is a 25,800 square foot drive up self storage operation sitting on 5.61 acres of land. The property is improved with a residence/rental office, five metal self storage buildings and offers ample room for expansion. 

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The facility is currently run as a remotely managed operation, with units being rented online, or through a call center, and accessed by a DaVinci lock system. The construction and finishes are typical of a B-class asset. Amenities include a well-pronounced on-site rental office, managers residence, large pole sign, security system, gated entry with Open Tech keypad 24-hour access, Trachte Buildings with standing seam metal roofs, and asphalt paves aisles.

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StorSafe of Cary benefits from being visible to over 25,000 cars per day and is located in a densely populated and under served market within the desirable Chicagoland MSA. According to the most recent demographic study, the five-mile population is in excess of 134,000 people and the supply index is about 7.5 square feet per person (only 4.9 square feet of drive-up units). Additionally, recent commercial growth in the area includes new retail, fuel stations, hospital, and apartment communities across the street.

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This investment opportunity offers an investor the ability to purchase a cash-flowing, remotely managed facility that has expansion potential.