1027 Airport RdFestus, MO 63028

Property Details for 1027 Airport Rd

Year built

1980

Lot size

1.70 AC

Property size (Sq ft)

17,732 SF

Property type

Warehouses

Property subtype

Self storage facilities

APN

19-4.0-18.0-0-001-026.02

APU

1940180000102602

Description

This exceptional self-storage facility in Festus, Missouri, presents a compelling investment opportunity. Boasting 170 units across 17 buildings totaling 24,748 net rentable square feet on a 2.37-acre lot, this property consistently achieves near-100% occupancy (currently at 98%). Built in 1985 and 2002, the facility features a fully fenced perimeter with an automatic gate, security cameras, and ample lighting, ensuring both security and peace of mind. The property includes a recently refinished manager's office, currently generating an estimated $850-$1,000 monthly rental income, and offers 20 parking spaces. Located conveniently near a major hospital and new developments, including a large James Hardie facility opening in 2025, this property benefits from strong demand and growth potential. The current owner has recently added space for 8-10 large outdoor RV/boat storage units, representing an additional revenue stream. Significant upside potential exists through market-rate rent increases (current rents are below market value), the addition of administrative, retail, and tenant insurance fees, and further development of the outdoor storage area. Seller financing options are available, including the assumption of an existing note and a potential second mortgage. The property's strong NOI of $119,157 and a 7.33% cap rate make this a highly attractive investment. The asking price is $1,625,000, or $9,558.82 per unit, and $65.66 per square foot. This is a turnkey operation with a proven track record of success and significant potential for future growth.

• Alternative Use

  Use

  Valuation

  Residential

  $4,639,308

  Hospitality

  $4,249,580

  Educational

  $3,535,601

  Medical

  $3,657,196

  Retail

  $5,499,824

Location Insight

City

Festus

County

Jefferson

State

Missouri

Latitude

38.1953

Longitude

-90.3912

CBSA code

41180

CBSA name

ST. LOUIS, MO-IL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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