Historical Industrial Sale Listing - Wilden Avenue Mini Storage

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Wilden Avenue Mini Storage

2704 West Wilden Avenue, Goshen, IN 46528

N/A

37,872 SF | Industrial

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Industrial Property - Off Market

Price:
N/A
Building Size:
37,872 SF
Property Type:
Industrial
Property Sub-type:
Self/ Mini-Storage Facility
Property Use Type:
Investment
Commission Split:
2%
Cap Rate:
8.56%
Tenancy:
Single
Clear Ceiling Height:
8 ft.
Lot Size:
3.17 AC
Listing ID
18396597
Last Updated
103 days ago

Highlights

  • 100% physical occupancy
  • 95% average market occupancy
  • 12.28% return based on conservative debt assumptions
  • Climate controlled units
  • On-site office
  • Second office could be rented for additional income

Description

Marcus & Millichap is pleased to offer for sale Wilden Avenue Mini Storage; a 37,872 net rentable square foot storage facility located at 2704 West Wilden Avenue, Goshen, Indiana. The property consists of 327 storage units, in ten single-story buildings. Climate controlled units range in size from 3'x8' to 10'x20'; while outside units offer units up to 10'x30'.

Wilden Avenue was built in 1977 and has been renovated and remolded over the past 6 years. The climate controlled building was built in 1998 and converted into climate control in 2006. The facility is situated on approximately 3.17 acres of land. The storage buildings are of metal construction, on concrete slab foundations, with pitched metal roofs and metal roll-up doors. This facility is currently 100 percent physically occupied and 93 percent economically occupied based on year end 2013 revenue.

The facility offers several amenities including automated entry gate, on-site management office, fully fenced and paved area, conventional drive-up and climate controlled units, and 24-hour surveillance system. In addition there is a kiosk expense included should an investor decide to automate the facility.

Nestled in the heart of Elkhart County, Goshen, Indiana is home to over 30,000 residents. Settled in 1831, it is the county seat.

Goshen has one of the most vibrant downtowns in the State. The revitalization of the downtown contributes to the City's overall appeal to residents, visitors, business, industry and entrepreneurs. Goshen' s business development philosophy is progressive and responsive with the City's Community Development Department focusing on the repurposing of past industrial sites for future development. Goshen is an innovator in the use of Tax Increment Financing (TIF) directing tax dollars to neighborhoods needing assistance.

With both public and private schools available, Goshen is among the top 10% of Indiana schools for National Merit Scholars.

Map of 2704 West Wilden Avenue, Goshen, IN 46528 (Elkhart County)

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