For Sale
$1,500,000

106 Elizabeth DrSaint Martinville, LA 70582

136-unit facility, high occupancy, strong NOI.

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional investment opportunity presents a 136-unit mini-storage facility situated on a 1.73-acre lot in St. Martinville, Louisiana. The property boasts 19,482 square feet of rentable space, currently achieving a remarkable 95% occupancy rate. The facility comprises seven single-story buildings, constructed in 2012, and includes 30 climate-controlled units and 106 non-climate-controlled units. All units operate on a month-to-month lease agreement. Generating a substantial net operating income (NOI) of $110,000, this property offers a compelling 7.00% capitalization rate. Current rental rates are below market value, presenting significant upside potential for increased profitability. The property benefits from low management costs and excellent maintenance. Included in the sale is 0.53 acres of additional land, providing an opportunity for expansion or future development. The property enjoys 309 feet of frontage on Elizabeth Drive and is located in a flood zone X area. The asking price is $1,500,000, translating to $80.66 per square foot. This is a turnkey operation with a proven track record of success, ideal for an investor seeking a stable and profitable addition to their portfolio. The property's APN is 15801B2633. The address is 106 Elizabeth Dr, St Martinville, LA 70582.

Highlights

  • 136-unit mini-storage facility on a 1.73-acre lot in St. Martinville, LA.
  • 19,482 square feet of rentable space with 95% occupancy.
  • Seven single-story buildings (2012 construction) including 30 climate-controlled and 106 non-climate-controlled units, all month-to-month leases.
  • $110,000 annual NOI, 7.00% cap rate, below-market rents offering upside potential.
  • Includes 0.53 acres of additional land; 309 feet of frontage on Elizabeth Drive; located in flood zone X.
  • Asking price: $1,500,000 ($80.66/SF); APN: 15801B2633; Address: 106 Elizabeth Dr, St Martinville, LA 70582.

Property Details for 106 Elizabeth Dr

Property type
Land, Self storage facilities
Square Feet
19,482 SF
Year Built
2012
Buildings
7
Stories
1

Location Insight

City
Saint Martinville
County
St Martin Parish
State
Louisiana
Latitude
30.143119110271
Longitude
-91.822238157461
106 Elizabeth Dr, Saint Martinville, Louisiana

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106 Elizabeth Dr
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