Exclusively Listed By:
ParaSell Inc. and
EquiCap Commercial 

DEAL SUMMARY

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List Price:  To Be Determined By Market

NRSF:        73,435

Units:         598

Acres:        5.031

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INVESTMENT SUMMARY

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PRIME LOCATION // Centrally located on major East-West thoroughfare with strong traffic counts.

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EXCELLENT DEMOS // The five-mile trade area boasts 99,486 people, 48K+ households. The population is projected to grow by 1.5% over the next five years supporting future demand for self storage.

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FAVORABLE SUPPLY INDEX // The total supply index in five miles is 8.63 square feet per capita, with non-climate-controlled units making up 5.05 square feet.

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POSITIVE INCOME TRENDING // The operation is realizing steady income growth over the trailing 12, 9, 6, and 3 month periods.

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STRONG RENTAL RATES // In addition to achieved rental rate growth over the past three years, the current achieved rents are 11.27/foot.

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INVESTMENT HIGHLIGHTS

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Strategically located with visibility and access to busy Salem Ave, StorSafe has been a fixture in the Trotwood Self Storage marketplace, proudly servicing the needs of the community for 50 years. Originally built in 1978 and completely renovated in 2019, the operation sits on 5.031 and consists of 598 units spread across 73,435 net rentable square feet.

 

The property offers construction and amenities typical of a B-Class operation. There are two large pole signs (one with electronic message board), boasting visibility from both Salem Ave and Salem Bend Dr. The attractive entrance allows for easy access to a well-pronounced 240 square foot leasing office and 1,300 square foot managers apartment. Customers can access the exterior drive-up units through a keypad-controlled security gate, via wide asphalt paved drive aisles. The interior units are accessed by well lit corridors.

 

In May 2019 Trotwood and the surrounding area was devastated by a number of tornados that hit between 9pm and 2am. StorSafe was not spared, taking on significant storm damage. As a result, the site was completely renovated with new roofs, new siding, new gutters/down spouts, new signs, new fencing and gate, new cameras and 10% of the doors were replaced. Through it all, the occupancy remained strong – currently 90%.

 

StorSafe of Trotwood represents an excellent opportunity to purchase a well-located, highly occupied self storage operation, with in-place cash flow. Additionally, upside can be achieved by reducing expenses (automating the operation), building upon the ancillary sales programs that are in place, and by pushing the trailing income to in- place rent levels.