112 11Th St Lake Charles, LA 70601

This exceptional 70,050 square foot self-storage portfolio, located in Lake Charles, Louisiana, presents a compelling investment opportunity. Comprising two properties at 112 W 11th St and 2859 Ernest St, this 11-building, single-story complex boasts a total of 70,050 net rentable square feet situated on 2.97 acres. Built in 1998 and renovated in 2022, the portfolio currently enjoys a 71.86% occupancy rate, generating a net operating income (NOI) of $366,920, representing a 6.92% cap rate. Pro forma projections indicate a significant increase in NOI to $404,489 and a 7.63% cap rate, highlighting the substantial upside potential. The asking price is $5,300,000, translating to a price per square foot of $76, well below replacement cost in this rapidly growing market. Lake Charles, the fifth largest city in Louisiana, experienced a remarkable 17.9% population growth between 2010 and 2020. Its strategic location along the Gulf Coast, coupled with a robust energy sector, including major petrochemical and natural gas processing plants and significant LNG investments, ensures a stable and expanding economic base. The city benefits from well-developed infrastructure, including the Port of Lake Charles, a major US port facilitating energy product transportation. This combination of strong current performance, significant growth potential, and a favorable economic environment makes this portfolio an attractive investment.