Marcus & Millichap has secured an exclusive listing of Decatur Storage Portfolio, a three property listing in Decatur, Illinois. The facilities are located within six miles of each other, allowing for easy management. The facilities total 259,965 net rentable square feet comprised of 2,017 units, 221 of these being climate-controlled, and 166 parking spaces. The facilities are located on a total of 24.89 acres with 5.32 acres available for further expansion. Amenities at the facilities include perimeter barbed wire fencing, gated access, video surveillance and onsite management.
The facilities are located throughout Decatur on West South Side Drive, West Main Street and North Woodfurd. The Properties have convenient access to highways and many large retailers and fast food chains such as Kroger and Arby's. There are dense residential areas and several colleges, such as Millikin University and Richland Community College, within close proximity to the properties. There is a low density of comparable facilities in the area.
The Decatur Storage Portfolio offers an investor the unique opportunity to acquire a well-performing portfolio with upside potential. The portfolio has a current physical occupancy of 93%, allowing for immediate cash fl ow upon acquisition. A new owner could capitalize on the available 5.32 acres by expanding and creating more climate-controlled units and could further increase cash fl ow by increasing current rental rates.
|Property Type:||Traditional Site|
|Rentable Square Feet:||259,965 Sq Ft|
|# of Floors:||1 Floor|
|Number of Buildings:||51 Bldg(s)|
|Number of Units:||2017 Unit(s)|
|Room For Expansion||Yes|
|Days Listed:||70 Days|
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