Manning Self Storage is a 73,545 NRSF self storage facility located in Natchitoches, Louisiana. Priced at $2,150,000 the property yields a 6.51% trailing cap rate at the current 74% economic occupancy. Additionally, the property is priced below replacement cost $29 / NRSF.
Manning Self Storage is located on Keyser Avenue, the dominant east-west retail corridor through Natchitoches. The property is located less than 0.2 miles from Walmart Super Center and national retailers AT&T, Jiffy Lube, Pizza Hit and Burger King. Natchitoches is centrally located between Baton Rouge and Shreveport. Additionally, the city is located nearly 100 miles from Nacogdoches and Lufkin, Texas.
The facility features all drive-up doors, steel and metal framing and concrete paved drives. Manning Self Storage is self-managed by the current out of state ownership. A new owner will be able to add more effective marketing, SEO, revenue management and operational efficiencies. By increasing economic occupancy 11% to 85% would yield a pro-forma cap rate of 7.67%.