1615 Us 301 Hwy N

Description

Self-storage Portfolio and Development Opportunity at Railway Storage in Dillon! Grand Junction Storage, approximately 1 mile away, with 14244 sq. ft. self-storage is also being offered by owners (see MLS # 20220487). Railway Storage has 3.17 acres of cleared, level general commercial acreage in the path of progress on US Hwy 301 N in Dillon just 4 minutes from I-95. At Railway, 5,000 square feet of new self storage construction less than 6 months old is 97% occupied. 2,000 square feet of new self-storage units less than 2 months old > 50% occupied. 5,000 square feet of new self-storage units are in route for construction. After construction will be 124 units comprising 12,000 sq. ft. at Railway Storage. New on-site 288 sq. ft. office. With additional 5,000 sq. ft. of storage erected and leased up, Railway Storage is offered at 6.3% cap rate, with increased rents, 7.4% cap. Value add opportunities include: build 20,000-30,000 additional square feet of self-storage on vacant acreage; add website for on-line reservation, payment, sales of merchandise, insurance and advertising; add security - e.g., fencing, indoor units to justify increase in rent per sq. ft. and to establish remote management efficiencies; raise rents; and/or subdivide and ground lease/build to suit. New owner can operate both facilities, right now to be 26,244 sq. ft., out of either Grand Junction or Railway Storage, for efficiencies of scale. With room for 5,000 additional sq. ft. at Grand Junction, can scale up to 55,000-60,000 sq. ft. total self-storage at both locations. For detailed, confidential offering memorandum contact Bill Tuck at (843)260-6915 or williamtuck@icloud.com. Property viewed by appointment only.