3775 South Packard Avenue in Saint Francis, Wisconsin is PARADIGM’s newest sale listing. The investment offering of a self storage and flex buildings facility is 52,216 Gros SF on 3.96 Acres listed for sale at $3,695,000.
Investment Summary
This site, located on the beautiful shores of Lake Michigan in Saint Francis, Wisconsin, boasts great views and convenient access. Sitting on almost 4 acres of land, there are 4 existing self storage buildings with 173 units. There are also 2 flex buildings on site that are nearly full with tenants, but may also be converted to approximately 165climate-controlled self storage units. Currently, there are a mix of retail and office tenants in Merchants Row and industrial warehouse and office tenants in the industrial building. The site also includes 50 fenced outdoor parking spaces that are fully rented. With brand new condominium and apartment developments in the surrounding neighborhood of Saint Francis, demand for self storage continues to grow. This property has easy access to downtown Milwaukee and the airport via I-794 at Howard Avenue.
OFFERING SUMMARY
- NET RENTABLE: 47,750 SF
- GROSS: 52,216 SF
- WAREHOUSE: 7,700 SF
- LAND SIZE: 3.96 Acres
- NUMBER OF UNITS: 173 + outside parking
- ZONING: D – Business District
- TAX KEY PARCEL: 5440032001
- OWNERSHIP TYPE: Fee Simple
FINANCIAL SUMMARY
- OFFERING PRICE $3,695,000
- PRICE PSF: $70.76
- PRICE PER UNIT: $21,358
- OCCUPANCY: 81.50%
- NOI (CURRENT): $225,347
- CAP RATE (CURRENT): 6.10%
- CAP RATE (STABALIZED) 8.09%
PROPERTY FEATURES
- NUMBER OF UNITS: 173
- NUMBER OF BUILDINGS: 6
- WEBSITE: http://lakesidestoragewi.com/
- ZONING: M1 – Limited Industrial
- SOFTWARE: Sitelink
RENTER’S FEES & DEPOSITS
- INSURANCE: Available to tenants
- SECURITY DEPOSIT: $25 / Unit
CONSTRUCTION
- EXTERIOR: Metal
- PARKING SURFACE: Asphalt
- ROOF: Pitched – Rubber and Metal
- FENCING: Yes
- SECURITY: Yes – cameras with DVR
- CONTROLLED ACCESS: Yes
UTILITES:
- WATER: Main buildings
- SEWER: Main buildings
- GAS / PROPANE: Main buildings
- ELECTRIC: Main buildings
BUILDING 1: 20,019 SF
DOCKS: 3
DRIVE-INS: 1
CLEAR HEIGHT: 16′
POWER: HEAVY
BUILDING 2: 7,196 SF Retail / Flex
Buildings 3-6: Row Buildings
Contact PARADIGM today for more information or to schedule a showing.
