This Industrial Property is Off-Market.

2704 West Wilden Avenue
Goshen, IN 46528 ·

37,872 SF · Industrial For Sale

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Wilden Avenue Mini Storage

Price N/A Commission Split 2%
Building Size 37,872 SF Cap Rate 8.56%
Property Type Industrial Tenancy Single
Property Sub-type Self/Mini-Storage Facility Clear Ceiling Height 8 ft.
Property Use Type Investment Lot Size 3.17 AC
Listing ID: 18396597 Date Created: 10/11/2013 Last Updated: 07/08/2014

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.

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

Research

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

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