1400 5Th StNorth Platte, NE 69101

For Sale
$878,000

Self Storage Facility: High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
92
This exceptional self-storage facility in North Platte, Nebraska, presents a compelling investment opportunity. Located at 1400 E 5th St, this property boasts 15,300 net rentable square feet across two buildings, comprising 106 units. Currently operating at 94.34% occupancy (as of July 22, 2024), the facility generates a current NOI of $57,163, representing a 6.51% cap rate. A pro-forma analysis projects a stabilized NOI of $75,492, resulting in an attractive 8.60% pro-forma cap rate. Built in 1996, the property is priced at $878,000, or $57.39 per net rentable square foot and $8,283.02 per unit. The property benefits from its location in North Platte, a city experiencing significant economic growth fueled by the upcoming completion of a large beef processing plant, creating thousands of jobs and boosting the local population. North Platte's unique geography, with limited basement space in homes due to flood plain location, further enhances the demand for self-storage. The city's development-friendly environment and ongoing residential and mixed-use projects contribute to a positive outlook for the property's future performance. The property's APN is 0032190.00. This is a rare opportunity to acquire a well-performing asset in a rapidly growing market.

Highlights

  • 6.51% Cap Rate, based on $57,163 NOI.
  • 8.60% Pro-Forma Cap Rate, based on $75,492 stabilized NOI.
  • $57 per Net Rentable Square Foot (NRSF).
  • 106 Units.
  • 15,300 total Net Rentable Square Feet (NRSF).
  • 94.34% Occupancy.

Property Details for 1400 5Th St

Property type
Self storage facilities, Industrial properties
Year Built
1996
Buildings
2
Units
106

Location Insight

City
North Platte
County
Lincoln
State
Nebraska
Latitude
41.1349829
Longitude
-100.7465344
1400 5Th St, North Platte, Nebraska

FAQs

How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
Please email our support team at [email protected] and they will add the team member.
How do I access a private listing?
Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
How can I contact the broker?
We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
How do I unsubscribe from emails?
At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].
1400 5Th St
Thanks! Your message was sent.
Error! Your message wasn't sent.
Please enter your first name
Please enter your last name
Please enter email
Please enter the email in the correct format
Please enter phone
Please enter the number in the correct format
Select size
Please enter message