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8535 GSRI Ave - Red & Blue Storage 28,200 SF Specialty Building Offered at $895,000 at a 8.03% Cap Rate in Baton Rouge, LA 70810
Executive Summary
- Value-Add Self Storage Facility Comprised of 143 Non-Climate Units Totaling 22,560 Net Rentable Square Feet, One 3,000 Square Foot Outdoor Parking Lot, and One ~1,100 Square Foot Apartment
- Recently Renovated Two-Bedroom, Two-Bathroom Apartment is Now Listed for Rent, Providing the Next Owner With Additional Upside
- Average Achieved Rates Are Well Below Market, Allowing for a Clear Path to Upside Through the Implementation of Existing Customer Rent Increases
- Sticky Tenants Evidenced by an Average Length of Stay Greater Than 13 Months Across the Entire Facility
- Interior Building Can Be Reconfigured to Meet Strong Demand for Larger Units and/or Contractor Storage
- Opportunity to Increase Revenue Through Lease Up, Stabilization, and Maximizing Supplemental Income Streams
- Facility is an Excellent Candidate for Remote Management With Automatic Gate, Keypad Entry, and Management Software Already in Place
- Very Strong Demographics Featuring a Population of 107,988 Residents and an Average Household Income of $108,026 Within Five Miles of the Property
- The Baton Rouge MSA is the Second Largest in Louisiana and is Home to 873,661 Residents
- Recently Renovated Two-Bedroom, Two-Bathroom Apartment is Now Listed for Rent, Providing the Next Owner With Additional Upside
- Average Achieved Rates Are Well Below Market, Allowing for a Clear Path to Upside Through the Implementation of Existing Customer Rent Increases
- Sticky Tenants Evidenced by an Average Length of Stay Greater Than 13 Months Across the Entire Facility
- Interior Building Can Be Reconfigured to Meet Strong Demand for Larger Units and/or Contractor Storage
- Opportunity to Increase Revenue Through Lease Up, Stabilization, and Maximizing Supplemental Income Streams
- Facility is an Excellent Candidate for Remote Management With Automatic Gate, Keypad Entry, and Management Software Already in Place
- Very Strong Demographics Featuring a Population of 107,988 Residents and an Average Household Income of $108,026 Within Five Miles of the Property
- The Baton Rouge MSA is the Second Largest in Louisiana and is Home to 873,661 Residents
Property Facts
| Price | $895,000 | Building Class | C |
| Price Per SF | $31.74 | Lot Size | 0.88 AC |
| Sale Type | Investment | Building Size | 28,200 SF |
| Cap Rate | 8.03% | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1985 |
| Property Subtype |
| Price | $895,000 |
| Price Per SF | $31.74 |
| Sale Type | Investment |
| Cap Rate | 8.03% |
| Property Type | Specialty |
| Property Subtype | |
| Building Class | C |
| Lot Size | 0.88 AC |
| Building Size | 28,200 SF |
| No. Stories | 1 |
| Year Built | 1985 |
1 1
Property Taxes
| Parcel Numbers | Improvements Assessment | $0 | |
| Land Assessment | $9,000 | Total Assessment | $9,000 |
Property Taxes
Parcel Numbers
Land Assessment
$9,000
Improvements Assessment
$0
Total Assessment
$9,000
Contacts
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Justin Clark -
Frank DeSalvo -
Josh Snead -
David Perlleshi -
Bryan Belk -
Franklin Street
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8535 GSRI Ave - Red & Blue Storage
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