13380 E Highway 20 26,000 SF Specialty Building Offered at $8,000,000 at a 6.48% Cap Rate in Clearlake Oaks, CA 95423

Marcus & Millichap is pleased to present Big Oak Center Storage, an institutional-quality selfstorage facility located in Clearlake Oaks, California. The property comprises of 457 non climate-controlled units, totaling 72,490 net rentable square feet. The self-storage property has been upgraded extensively over the last three years: five storage building's roofs were replaced, all the storage buildings were painted, new electrical and lighting was installed, and new rollup doors were installed throughout the property. Additionally, the property offers a qualified investor the rare opportunity to acquire the only storage facility in the city of Clearlake Oaks.
The property is offered at $8,000,000 ($110/nrsf) which equates to a 6.48% cap rate on the current NOI and a 6.90% cap rate based on a pro forma NOI. Priced well below replacement costs, a new investor has the opportunity to purchase a stabilized storage asset and increase the NOI by raising the rents to market and adding fee income as an additional source of revenue.
DO NOT DISTURB TENANTS OR MANAGERS. ALL TOURS MUST BE CONDUCTED THROUGH LISTING AGENTS.
APN(s): 006-510-090, 006-510-080, 006-510-150