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Sheridan & Lockwood Self Storage 2 Specialty Properties Offered at $3,500,000 in Kenosha, WI
Investment Highlights
- 240-unit, non-climate-controlled self-storage facility located in Kenosha, Wisconsin.
- Attractive in-place vacancy among smaller units, allowing operational improvement without new construction.
- Diverse unit mix ranging from 4’×6’ to 12’×34’, appealing to a broad customer base.
- 78.8% physical occupancy, providing immediate lease-up and revenue upside.
Executive Summary
The facility offers a diverse unit mix ranging from 4’×6’ up to 12’×34’, with a strong concentration of mid- and large-bay units (10’×10’, 10’×17’, and 10’×20’) that demonstrate solid demand. Current occupancy is 78.8% (189 of 240 units occupied), providing a clear lease-up and revenue growth opportunity, particularly among smaller unit sizes that remain underutilized. Based on market rents outlined in the offering, stabilized performance supports potential gross income of $351,000, resulting in effective gross income of $317,900 after a 10% vacancy factor. Total operating expenses are projected at $97,134, yielding a pro forma NOI of $220,766.
Property Facts
| Price | $3,500,000 | Status | Active |
| Price / SF | $108.06 / SF | Number of Properties | 2 |
| Sale Condition | Bulk/Portfolio Sale | Individually For Sale | 0 |
| Cap Rate | 6.31% | Total Building Size | 32,390 SF |
| Sale Type | Investment | Total Land Area | 2.39 AC |
| Price | $3,500,000 |
| Price / SF | $108.06 / SF |
| Sale Condition | Bulk/Portfolio Sale |
| Cap Rate | 6.31% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 32,390 SF |
| Total Land Area | 2.39 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 7923 Sheridan Rd, Kenosha, WI 53143 | Specialty | 22,680 SF | 1994 | - |
|
Lockwood Storage
1552 22nd Ave, Kenosha, WI 53140 |
Specialty | 9,710 SF | 1936 | - |
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Sheridan & Lockwood Self Storage
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