Red & Blue Storage
Closed8535 GSRI Ave, Baton Rouge, LA 70810
$830,000143 units28,200 SF
Self Storage
Property type
Self Storage
Unit / Space count
143
Price
$830,000
Building size
Rentable area
28,200 SF
Year built
Year renovated
Property class
A
Occupancy
Zoning code
Sold/status
Sold · Date unknown
Sale price
$830000
Property description
Bryan Belk Louisiana BOR License No. BROK.995717892-ACT Firm License No. BROK.995717893-CORP 813-839-7300 [email protected] Franklin Street Real Estate Services LLC
Property highlights
- 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