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All Purpose Storage - Rutland 2 Specialty Properties Offered at $11,250,000 in Multiple Locations
Investment Highlights
- Cash-flowing self storage portfolio: Rutland (482 units, 62,350 NRSF) & West Rutland (110 units, 12,900 NRSF + 2,000 SF commercial).
- Strong occupancy and moderate SF/capita offer upside via rent increases on existing customers.
- West Rutland offers expansion potential; town approvals in process, conceptual plans in deal room
- Facilities sit less than four miles apart, enabling shared management efficiencies.
- Rutland location doubled in size via 2021 expansion; now 84.23% physically occupied.
- Recent Rutland CapEx: ornamental fencing, $50,000 in landscaping, fresh paint on pre-2021 buildings.
Executive Summary
- Cash Flowing Self Storage Portfolio With the Rutland Location Comprised of 482 Non-Climate Units Totaling 62,350 NRSF and the West Rutland Location Comprised of 110 Non-Climate Units Totaling 12,900 NRSF and a 2,000 SF Commercial Space.
- The Facilities Are Located Less Than Four Miles From Each Other, Allowing for Management Efficiencies.
- Strong Occupancy and a Moderate SF/Capita Should Allow the Next Owner to Increase Revenue Through Existing Customer Rent Increases.
- Rutland Location Was Doubled in Size During the 2021 Expansion and Currently Sits at 84.23% Physical Occupancy.
- Room for Future Expansion at the West Rutland Location. Seller Has Been Working Toward Approvals With the Town and Conceptual Plans are Included in the Deal Room.
- Facilities are Excellent Candidates for Remote Management With Automatic Gate and Keypad Entry Already In-Place at the Larger Rutland Location. Management Software and Essential Vendor Contracts In-Place at Both Locations.
- Recent Cap/Ex Improvements at the Rutland Location Include the Installation of Ornamental Fencing, $50,000 in Landscaping Upgrades, and a Fresh Coat of Paint for the Buildings That Were Not Part of the 2021 Expansion.
- Strong Average Household Income of $83,366 Within Five Miles of the Rutland Location.
- The Rutland MSA is Comprised Solely of Rutland County, Which is Located in Eastern Vermont and is Home to 60,271 Residents.
In Association with ParaSell Inc. | A Licensed Vermont Broker #83.0650387-MAIN
Scott Reid
Broker - ParaSell Inc.
Lic #: VT - 81.0105695
949.942.6578
Broker@parasellinc.com
- The Facilities Are Located Less Than Four Miles From Each Other, Allowing for Management Efficiencies.
- Strong Occupancy and a Moderate SF/Capita Should Allow the Next Owner to Increase Revenue Through Existing Customer Rent Increases.
- Rutland Location Was Doubled in Size During the 2021 Expansion and Currently Sits at 84.23% Physical Occupancy.
- Room for Future Expansion at the West Rutland Location. Seller Has Been Working Toward Approvals With the Town and Conceptual Plans are Included in the Deal Room.
- Facilities are Excellent Candidates for Remote Management With Automatic Gate and Keypad Entry Already In-Place at the Larger Rutland Location. Management Software and Essential Vendor Contracts In-Place at Both Locations.
- Recent Cap/Ex Improvements at the Rutland Location Include the Installation of Ornamental Fencing, $50,000 in Landscaping Upgrades, and a Fresh Coat of Paint for the Buildings That Were Not Part of the 2021 Expansion.
- Strong Average Household Income of $83,366 Within Five Miles of the Rutland Location.
- The Rutland MSA is Comprised Solely of Rutland County, Which is Located in Eastern Vermont and is Home to 60,271 Residents.
In Association with ParaSell Inc. | A Licensed Vermont Broker #83.0650387-MAIN
Scott Reid
Broker - ParaSell Inc.
Lic #: VT - 81.0105695
949.942.6578
Broker@parasellinc.com
Property Facts
| Price | $11,250,000 | Number of Properties | 2 |
| Price / SF | $67.14 / SF | Individually For Sale | 0 |
| Cap Rate | 7.11% | Total Building Size | 167,571 SF |
| Sale Type | Investment | Total Land Area | 12.80 AC |
| Status | Active |
| Price | $11,250,000 |
| Price / SF | $67.14 / SF |
| Cap Rate | 7.11% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 167,571 SF |
| Total Land Area | 12.80 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1331 US Route 7 N, Rutland, VT 05701 | Specialty | 151,571 SF | 2023 | - |
| 771 Rutland Rd, West Rutland, VT 05777 | Specialty | 16,000 SF | 1995 | - |
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