Value-Add Self Storage
217 E Pearl St Portland, IN 47371
217 E Pearl St, Portland, IN, 47371
$2,300,000
For Sale
$2,300,000
Self-storage facilities with 383 units totaling 44,180 square feet.
Property Size44,180 SF
Price / SF$52.06
Days on Market113
Property Features for 217 E Pearl St
General Information
- Standard status
- Active
- Size
- 44,180 SF
- Property subtype
- Self Storage
Listing agency
ParaSell Inc
(239) 293-3844
Listed by
Frank DeSalvo · License #NC #307512
Source
Franklinst
Added: Apr 1 Updated: Jul 10 at 1:15PM Checked: Jul 10 at 1:15PM
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 ParaSell Inc
Investment Insights
Based on property information with market context.
The property features self-storage facilities with 383 non-climate controlled units, totaling 44,180 net rentable square feet. Located in Portland, Indiana, approximately 75 miles northeast of Indianapolis, the property is situated in Jay County, which has a population of 20,354 residents. The area has limited competition, with only two other self-storage facilities in the market. Opportunities exist to increase revenue through lease-up stabilization and the implementation of existing customer rent increases. The saturation rate for self-storage within a five-mile radius is low, at 6.5 SF/capita. Additional revenue can be generated by maximizing fee income and tenant insurance sales. The facility is well-suited for remote management, with management software and a local employee already in place. Recent capital improvements include door repairs, partition repairs, roof maintenance, and partial paving of the facilities.
Key Highlights
- Value‑add opportunity with below replacement cost acquisition.
- Limited competition with only two other facilities in the area.
- Opportunity to increase revenue through lease‑up, stabilization, and rent increases.
Property Analytics
Property Profile
Location Intelligence
Current Use by Public Records
Self storage facilities
Similar For Sale Nearby
FAQs
What type of property is this?
Self storage facility - Self-storage facilities with 383 units totaling 44,180 square feet.
Where is this self storage facility located?
The property is located at 217 E Pearl St Portland, IN.
What is the asking price?
The asking price for this property is $2,300,000.
What are key features of this property?
This property features: Value‑add opportunity with below replacement cost acquisition.; Limited competition with only two other facilities in the area.; Opportunity to increase revenue through lease‑up, stabilization, and rent increases.
