For Sale
For Sale
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Year Built
1996
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Overview
Colliers National Self-Storage Group has been retained as the exclusive advisor by the ownership to offer for sale the Extra Self Storage properties located at 30 East Victorian Avenue, Sparks and 10650 South Virginia Street, Reno.
These assets represent two high quality, well maintained self-storage facilities in the Reno/Sparks market. Combined facilities offer 98,565 net rentable square feet in 900 units, plus 14 parking spaces for a total of 914 units. The Reno facility was built in 2005 and is currently at 97% occupancy and the Sparks facility was built in 1996 is at 99% occupancy.
Based on a projected year 1 net operating income of $680,200 the current value of these facilities ranges between $14.5 – 15.0 million. Asking price of $14,500,000 represents a CAP rate of 4.7% on in-place rents and 5.3% CAP rate on projected 2022 NOI. Rents are on average approximately 78% of published street rents for the market.
These assets are being offered free and clear of any existing debt.
Property Details
Colliers National Self-Storage Group has been retained as the exclusive advisor by the ownership to offer for sale the Extra Self Storage properties located at 30 East Victorian Avenue, Sparks and 10650 South Virginia Street, Reno.
These assets represent two high quality, well maintained self-storage facilities in the Reno/Sparks market. Combined facilities offer 98,565 net rentable square feet in 900 units, plus 14 parking spaces for a total of 914 units. The Reno facility was built in 2005 and is currently at 97% occupancy and the Sparks facility was built in 1996 is at 99% occupancy.
Based on a projected year 1 net operating income of $680,200 the current value of these facilities ranges between $14.5 – 15.0 million. Asking price of $14,500,000 represents a CAP rate of 4.7% on in-place rents and 5.3% CAP rate on projected 2022 NOI. Rents are on average approximately 78% of published street rents for the market.
These assets are being offered free and clear of any existing debt.
- Property TypeIndustrial
- Submarket
- Year Built1996
- Total Acres0.94
- Number of Floors2
- ZoningTOD
- Last updatedDec 25, 2023
- Property ID2202610