For Sale
$5,300,000

112 11Th StLake Charles, LA 70601

High-growth market, strong NOI, excellent potential.

Overview

Added:
Dec 11, 2024
Days on market:
115
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.

Highlights

  • 70,050 SF self-storage portfolio in Lake Charles, LA, offering stable income with significant upside potential.
  • Currently boasts a 6.92% cap rate and 72% occupancy, with pro forma projections showing a 7.63% cap rate.
  • Priced at $76/SF, well below replacement cost.
  • Located in Lake Charles, LA, the 5th largest city in Louisiana, experiencing 17.9% population growth (2010-2020).
  • Situated in a critical energy production and transportation hub with a robust industrial base, including petrochemical, natural gas, and LNG projects.
  • Benefits from well-developed infrastructure, including the Port of Lake Charles.

Property Details for 112 11Th St

Property type
Warehouses, Self storage facilities
Square Feet
70,050 SF
Year Built/Renovated
1998/2022
Buildings
11
Stories
1
Lot Size (sq. ft)
129,373 SF

Location Insight

City
Lake Charles
County
Calcasieu Parish
State
Louisiana
Latitude
30.214095804765
Longitude
-93.220048088636
112 11Th St, Lake Charles, Louisiana

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112 11Th St
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