Historical Industrial Sale Listing - Do It Yourself Storage

Industrial For Sale

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Do It Yourself Storage

555 California Ave, Sand City, CA 93955

N/A

21,897 SF | Industrial

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Industrial Property - Off Market

Price:
N/A
Building Size:
21,897 SF
Property Type:
Industrial
Property Sub-type:
Self/ Mini-Storage Facility
Property Use Type:
Investment
Cap Rate:
7.39%
No. Stories:
1
Tenancy:
Multiple
Year Built:
1977
Clear Ceiling Height:
10 ft.
Lot Size:
1.15 AC
Listing ID
16845623
Last Updated
over 1 year ago

Utilities

Highlights

  • Real Estate Owned (REO) Sale
  • Located Along Highway 1 Next to Monterey Bay
  • As of August 31, 2010, the Facility is 75.9 Percent Physically Occupied and 74.3 Percent Economically Occupied
  • Monterey Metropolitan Statistical Area (MSA) has 400,000 Residents
  • Facility is Located One Third Mile from Home Depot and Costco
  • Site is 1.15 Acres and Zoned C-2 and MU-P

Description

Marcus & Millichap is pleased to offer a lender-owned self storage facility for sale located in Sand City, California. This offering provides a rare opportunity to acquire a stable, cash-flowing asset in a low sales velocity market. The facility is 21,897 net rentable square feet and contains 190 self storage units and two uncovered vehicle storage spaces. The improvements were constructed in 1976 and 1983, and are currently 75.9 percent physically occupied and 74.3 percent economically occupied as of August 31, 2010. There are eight single story buildings located at 555-575 California Avenue, and includes a rental office. There is a satellite location one block to the southeast at 655 Redwood Avenue that consists of two single story buildings.

These storage sites contain 1.15 acres of C-2 and MU-P zoned property located one tenth of a mile from Monterey Bay with exposure to California Highway 1. Sand City is located two miles northeast of Monterey, Pebble Beach and Carmel.

Map of 555 California Ave, Sand City, CA 93955 (Monterey County)

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Created 9/22/2010