9665 Us-20 Angola, IN 46703
- Self storage facilities
- 1,052.00 lot acres
Current Use by Public Records
- Self storage facilities
Property Details for 9665 Us-20
- Year built
- 1997
- Lot size
- 1,052.00 lot acres
- Property type
- Self storage facilities
Description
This exceptional 14,236-square-foot self-storage facility in Angola, Indiana, presents a compelling investment opportunity. Boasting 73 units across four single-story buildings on a spacious 1.052-acre lot (APN: 76-05-20-000-020.070-005), this property offers significant upside potential. The facility comprises 400 square feet of climate-controlled units, 11,260 square feet of non-climate-controlled units, and 2,576 square feet of retail/office space. Currently generating a strong NOI of $53,515 and an 8.63% cap rate, a pro-forma NOI of $67,997 and a 10.97% pro-forma cap rate are projected. Strategically located on US Highway 20, experiencing 6,841 vehicles daily, this property benefits from a strong local market with a household income of $82,526 within a five-mile radius and a low square footage per capita (3.9 SF/capita). Further revenue growth can be achieved through lease-up, stabilization, and implementing tenant insurance. The property's location, eight miles west of downtown Angola, is in an undersupplied market, presenting an opportunity for expansion by converting commercial space into additional climate-controlled units. Built in 1997, this facility is priced at $620,000, or $8,493.15 per unit. This is a rare chance to acquire a value-add self-storage asset with substantial growth prospects in a thriving market.
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
- Angola
- County
- Steuben
- State
- Indiana
- Longitude
- -85.1738
- Latitude
- 41.6444
