1022 Troy O'fallon Rd Troy, IL 62294
- Self storage facilities
- 4.04 lot acres
Current Use by Public Records
- Self storage facilities
Property Details for 1022 Troy O'fallon Rd
- Year built
- 2015
- Lot size
- 4.04 lot acres
- Property type
- Self storage facilities
Description
This exceptional investment opportunity presents a fully stabilized, 39,460-square-foot self-storage facility specializing in boat and RV storage, located at 1022 Troy O'Fallon Rd, Troy, IL 62294. The property boasts a 99% occupancy rate as of June 30, 2024, generating a Net Operating Income (NOI) of $129,048, with a pro-forma NOI of $125,716. Built in 2015, this fee-simple property comprises three single-story buildings situated on a 4.04-acre lot (APN: 09-2-22-22-00-000-011) and zoned for commercial use. The facility features 97 units, with an asking price of $1,950,000 ($20,103.09 per unit), offering a 6.62% cap rate and a pro-forma cap rate of 6.45%. The property benefits from a prime location in the affluent Troy, Illinois market, where the median household income within a one-mile radius exceeds $118,671 – significantly higher than the national average. The absence of competing facilities within a five-mile radius presents substantial growth potential, particularly given the ability to increase rates by up to 25% to align with current market conditions. The remotely managed nature of the site contributes to lower operating expenses and a higher overall NOI. This is a rare opportunity to acquire a high-performing asset in a strong market with significant upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Troy
- County
- Madison
- State
- Illinois
- Longitude
- -89.8747
- Latitude
- 38.6955
