616 Dale AveMuskegon, MI 49441

For Sale
$1,100,000

High-Yield Self Storage Investment

Overview

Added:
Dec 11, 2024
Days on market:
93
Exceptional opportunity to acquire a fully occupied, 131-unit self-storage facility in Muskegon, Michigan. This stabilized investment boasts 17,660 net rentable square feet on a 1.3-acre lot, achieving 100% occupancy and generating a strong NOI of $85,959. The asking price is $1,100,000, representing a compelling $8,397 per unit and a 7.81% cap rate. The property is located at 616 W. Dale Ave, Muskegon, MI 49441, and is zoned for self-storage use. The land value is $62 per square foot. This asset presents significant upside potential through rental rate increases and the development of an online presence to enhance marketing and occupancy. The current lack of a website or online marketing strategy presents a unique opportunity for immediate value-add. This is a prime investment for those seeking immediate cash flow and substantial long-term growth in a thriving market. The property's strong performance and location make it an attractive addition to any portfolio. Financial records are available upon request. The parcel number is 61-24-205-437-0008-00.

Highlights

  • Fully occupied, 131-unit self-storage facility in Muskegon, MI.
  • 17,660 net rentable square feet on a 1.3-acre lot.
  • 100% occupancy with $85,959 NOI and a 7.81% cap rate.
  • Asking price: $1,100,000 ($8,397 per unit).
  • Located at 616 W. Dale Ave, Muskegon, MI 49441 (Parcel # 61-24-205-437-0008-00).

Property Details for 616 Dale Ave

Property type
Self storage facilities, Industrial properties
Lot Size (sq. ft)
56,628 SF
Units
131

Location Insight

City
Muskegon
County
Muskegon
State
Michigan
Latitude
43.222628
Longitude
-86.258124
616 Dale Ave, Muskegon, Michigan

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616 Dale Ave
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