Mini-Storage Facility For
For Sale
$1,500,000
106 Elizabeth Dr, Saint Martinville, LA 70582
136-unit mini-storage facility with expansion potential in St. Martinville.
Property Size19,482 SF
Lot Size0.53 Acres
Price / SF$76.99
Days on Market1551
Property Features for 106 Elizabeth Dr
General Information
Standard status
Active
Size
19,482 SF
Lot size
0.53 Acres
Property subtype
Industrial
Listing Agency:
Saurage Rotenberg Commercial Real Estate, LLC
Listed By:
Michael Stinson
(225) 907-7793
Source:
Lacdb.resimplifi
Added: Jul 25, 2022
Changed: Oct 8
Last Checked: Oct 20 at 5:19PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Saurage Rotenberg Commercial Real Estate, LLC
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Investment Insights
Based on property information with market context.
This property features a 136-unit mini-storage facility, consisting of 30 climate-controlled units and 106 non-climate-controlled units. The units are leased on a month-to-month basis and maintain approximately 95% occupancy. The facility is well-maintained and generates an NOI of $110,000 with a 7% cap rate. Current rental rates are below market value, contributing to low management costs. The property includes 0.53 acres of land that can be used for additional storage units. The total acreage is 1.729 acres. It has 309 feet of frontage on Elizabeth Dr. The property is located in Flood Zone "X", indicating no flood risk. Also available is a 24-unit apartment complex with additional land on Teresa Dr.
Key Highlights
- High Occupancy Rate: Stays 95% fully occupied, indicating strong demand
- Income Generation: Generates $110,000 Net Operating Income (NOI)
- Expansion Potential: 0.53 Acres available for building additional storage units
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$135,501
Cap Rate
9.03%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,710,020
$2.7M
Cap Rate 7%
$1,935,729
$1.9M
Cap Rate 9%
$1,505,567
$1.5M
Market Conditions
NOI Build-Up for 19,482 SF
Gross rent
$210.4K $10.80/SF
− Vacancy
−$16.8K −$0.86/SF
EGI
$193.6K $9.94/SF
− OpEx
−$58.1K −$2.98/SF
NOI
$135.5K $6.96/SF
Area
St. Martin County, LA
Vacancy
8.00%
Lease Rate
$10.80 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$2,710,020
Cap Rate 7%
$1,935,729
Cap Rate 9%
$1,505,567
Alternative Uses
Best Use
Self Storage
$1.94M
$1.69M – $2.26M
NOI $135,501 @ 7.0% cap · market cap 9.03%
Second Best
Industrial
$1.42M
$1.24M – $1.66M
NOI $99,458 @ 7.0% cap · market cap 6.63%
Theoretical Best
Office A
$4.28M
$3.74M – $4.99M
NOI $299,477 @ 7.0% cap · market cap 19.97%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
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Current Use
Location Intelligence
Trade Area within ½ mile
60
Businesses Nearby
Explore this area
Business Placement
Demographics for 70582, LA
19,088
Population
9,122
Households
2.1
Avg Household Size
41
Median Age
13%
College-Educated
84%
High-School Grad
148.0 sq mi
ZIP Area
129
Density / Sq Mi
$46,690
Median Household Income
$36,265
Median Earnings
$787
Median Rent
$149,100
Median Home Value
Check the figures for this property
Cap Rate, Value Estimation, Potential NOI and more
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Market
Vacancy Rate% for Industrial in South region
Frequently Asked Questions
What type of property is this?
Self storage facility - 136-unit mini-storage facility with expansion potential in St. Martinville.
Where is this self storage facility located?
The property is located at 106 Elizabeth Dr Saint Martinville, LA.
What is the asking price?
The asking price for this property is $1,500,000.
What are key features of this property?
This property features: High Occupancy Rate: Stays 95% fully occupied, indicating strong demand; Income Generation: Generates $110,000 Net Operating Income (NOI); Expansion Potential: 0.53 Acres available for building additional storage units
