For Sale
Call for price

1103 Oakes AveSuperior, WI 54880

High-Occupancy, Turnkey Investment

Overview

Added:
Dec 11, 2024
Days on market:
117
This exceptional self-storage portfolio in Superior, Wisconsin, presents a compelling investment opportunity. Comprising four locations totaling 118,360 rentable square feet and 708 units, this property boasts consistently high occupancy rates, currently at 85%, and strong year-over-year revenue growth. Built between 1989 and 2014, the portfolio benefits from recent capital improvements exceeding $350,000 over the past two and a half years. These upgrades include enhanced security systems (security cameras and lighting), door replacements, and other curb appeal enhancements. The portfolio's strategic location within the densely populated city of Superior, within the "Twin Ports" area encompassing Duluth, MN, and Superior, WI, offers significant potential for market share expansion. Currently generating a gross potential income of $1,327,248 at existing rental rates, this turnkey operation presents a unique chance to capitalize on below-market rents and attract new tenants at higher rates. The property's substantial size makes it the second-largest portfolio in a growing MSA with a population of 280,000. This is an ideal opportunity for investors seeking a stable, high-performing asset in a thriving market. The addresses are 1103 Oakes Ave, 2030 Elmira Ave, 2634 Elmira Ave, and 2343 Elmira Ave, all in Superior, WI 54880, within Douglas County.

Highlights

  • Exceptional opportunity for portfolio scale in the Duluth/Superior Twin Ports MSA.
  • $1.33M gross potential annual income (based on current rents).
  • 85% occupancy, strong historical occupancy track record.
  • Turnkey operation; $350,000 in recent capital improvements.
  • Acquire the second-largest portfolio in a growing 280,000-person MSA.

Property Details for 1103 Oakes Ave

Property type
Self storage facilities
Year Built
1989
Units
708

Location Insight

City
Superior
County
Douglas
State
Wisconsin
Latitude
46.7250134
Longitude
-92.1076017
1103 Oakes Ave, Superior, Wisconsin

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1103 Oakes Ave
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message