This Industrial Property is Off-Market.

1150 East 19th Avenue
San Mateo, CA 94403 ·

109,933 SF · Industrial For Sale

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Bay Area Self Storage

Price N/A No. Stories 3
Building Size 109,933 SF Tenancy Single
Property Type Industrial Year Built 2006
Property Sub-type Self/Mini-Storage Facility Lot Size 3.46 AC
Property Use Type Investment Features Sprinklers
Cap Rate 6.50%
Listing ID: 14538820 Date Created: 03/14/2006 Last Updated: 05/01/2006

Description

We are pleased to present this first class self storage development opportunity in San Mateo, California. Bay Area Self Storage would offer an outstanding opportunity of a brand new Class A facility in a strong rental market and high barriers to entry.

This investment is offered at a 6.5% cap rate based upon the Proforma Annual Income & Expenses. The one-story buildings are scheduled to open in July 2006 and the three-story buildings are scheduled to open September 2006.

The facility is offered to the investor $25,500,000 cash, or cash to new financing.

Bay Area Self Storage would be located at 1150 East 19th Avenue in San Mateo. This facility would consist of three story buildings consisting of approximately 109,933 net rentable square feet of self storage space demised into 1,100 self storage units.

The self storage facility would be located in the City of San Mateo at 1150 East 19th Street, directly South of the 92 and West of Highway 101. San Mateo, California is located on the Peninsula approximately 20 miles south of San Francisco. San Mateo is both a residential and business community serving a population of over 92,482 as of the year 2000, in an area of more than 14 square miles. San Mateo is an ideal commercial location situated at the crossroad of three major freeways, which provide a link with San Francisco to the north, San Jose to the south, and the East Bay to the east. Maintaining the quality of life remains a key goal for San Mateo and the City's strategic business plan for economic development is designed to achieve this goal.

Construction of the buildings is stucco over block shear walls with concrete columns over concrete mat slabs overbuilt beyond the edge of the buildings. The

Highlights

  • Class "A" Trophy Facility
  • Located at the Southwest corner of Hwy. 101 & 92
  • 6.5% Cap Rate on the Proforma
  • Strong Rental Market
  • High Barriers to Entry
  • Upside Potential

Utilities

  • Sprinklers

Research

1150 East 19th Avenue, San Mateo, CA 94403 (San Mateo County)

Property Record Data - Historical Listings, current tax, mortgage, owners & tenant info for this property

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