Value Add Self Storage Facility In Slidell For Sale

Description

Value add self storage facility located in Slidell, Louisiana within the New Orleans Metairie metropolitan area, serving a population of over nine hundred sixty six thousand residents. The property is offered at seven hundred ninety five thousand dollars and provides an in place cap rate of approximately four point five six percent with upside to over nine percent through lease up and operational improvements.The facility consists of approximately eleven thousand eight hundred eighty six net rentable square feet across ninety eight storage units within two buildings. Current physical occupancy is approximately seventy two percent, excluding owner occupied units, which presents an immediate opportunity to increase revenue by leasing vacant units and optimizing rental rates.Constructed in the mid nineteen nineties and renovated in the late two thousands, the property sits on approximately three acres and benefits from strong visibility, convenient access to major highways, and limited competing supply in the immediate area. The surrounding market features dense residential neighborhoods, strong household incomes, and constrained new development.Additional features include twenty four hour tenant access and enhanced security systems. This offering represents a solid opportunity to acquire a well located self storage asset with clear value add potential in a stable and growing Louisiana market.