For Sale
$1,700,000

7965 State Highway 99WGerber, CA 96035

High-yield self-storage, value-add opportunity.

Overview

Added:
Dec 11, 2024
Days on market:
115
This exceptional mixed-use investment property, located at 7965 State Hwy 99W in Gerber, CA (Tehama County, zip code 96035), presents a compelling value-add opportunity. The property, known as U-Lok Mini Storage, comprises six buildings totaling 18,912 square feet on a 4.47-acre lot (APN: 063-160-008-000, 063-160-026-000). Built in 1985 and 2002, with recent renovations in 2023 and 2024, the property features 124 units, offering exclusively drive-up access. The net rentable square footage is 18,538 square feet, currently boasting 79% occupancy. The property benefits from a prime location near Highway 5 and Old Highway 99W, situated between the Chico and Red Bluff metro areas. The asking price is $1,700,000, representing a price per square foot of $91.70 and a 4.19% cap rate, with a current NOI of $71,219. The property is zoned for general commercial use and offers a strong history of high occupancy and positive online reviews (4.6 stars on Google). U-Haul rental sales have shown significant growth, increasing fivefold in the second year of operation. This property is ideal for various investor profiles, including retirees seeking passive income or multifamily investors looking to diversify into the self-storage market. The lease type is modified, and the tenancy is multi. This is a 1031 exchange eligible property.

Highlights

  • $1,700,000 asking price for a mixed-use, value-add self-storage facility in Gerber, CA.
  • 18,912 square feet with 18,538 net rentable square feet, offering 124 units.
  • 4.19% cap rate with a $71,219 NOI and 79% occupancy.
  • $91.70 price per square foot.
  • Located on 4.47 acres at 7965 State Hwy 99W, Gerber, CA 96035, with APN 063-160-008-000, 063-160-026-000.
  • Features six buildings constructed in 1985 and 2002, with renovations in 2023 and 2024.

Property Details for 7965 State Highway 99W

Property type
Mixed-use properties, Self storage facilities
Square Feet
18,912 SF
Buildings
6
Lot Size (sq. ft)
194,713 SF
Units
124

Location Insight

City
Gerber
County
Tehama
State
California
Latitude
40.0280605
Longitude
-122.1723028
7965 State Highway 99W, Gerber, California

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7965 State Highway 99W
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