1606 E Wade St - Rick's Self Storage Spécialité

The subject property encompasses a total of 6,270± SF of enclosed self-storage space, supplemented by three pods totaling 384± SF and two mobile homes, bringing the combined area to 8,046 SF across two buildings, three pods, and two mobile homes. It offers 51 self-storage units, along with a 2-bedroom, 1-bath mobile home and a studio unit. Approximately $25,000 has been invested in site improvements, which include rehabbing the mobile homes to create month-to-month rental opportunities. Non-cash enhancements such as improved signage, an optimized Google Maps presence, and strategic rent increases have bolstered revenue. The auctioning and clearing of abandoned and delinquent units, coupled with electronic contracts and auto-pay systems, have streamlined operations and reduced cash handling. Income is generated from both self-storage and parking, with significant value-add opportunities available, including potential rental increases, the addition of storage containers, and the possibility of developing 10,000 to 15,000 square feet of new construction for self-storage, making this a promising investment.