1026 7Th St Vincennes, IN 47591
- Self storage facilities
- 7,829 SF
- 0.18 lot acres
Current Use by Public Records
- Crazy Gifter / Gift Shop
- Bright Orange Storage / Self-Storage Facility
Property Details for 1026 7Th St
- Year built
- 1915
- Lot size
- 0.18 lot acres
- Property size
- 7,829 SF
- Property type
- Self storage facilities
Description
This exceptional investment opportunity presents a 7,829 square foot, two-story self-storage facility located at 1026 N 7th St, Vincennes, IN 47591. Boasting 78 units within a single building on a 0.18-acre lot, this property offers significant potential for value appreciation. Currently operating at 64% occupancy, the facility generates a Net Operating Income (NOI) of $17,800, with a pro-forma NOI projected at $28,000. The asking price is $189,900, translating to $24.26 per square foot and $2,434.62 per unit. The property features a 10-foot ceiling height and benefits from recent renovations in 2005 and 2024, including an upgraded 4k camera system, a renovated office area, and LED lighting upgrades. The property is zoned C-1 and includes U-Haul franchise rights, pending completion of required training. Built in 1915, this fee-simple ownership offers a compelling 9.37% cap rate, with a pro-forma cap rate of 14.74%. The property's location provides excellent visibility, and the basement area presents further expansion possibilities. This is a rare opportunity to acquire a profitable, value-add storage facility with significant upside potential. The APN is 42-12-22-116-015.000-022.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Vincennes
- County
- Knox
- State
- Indiana
- Longitude
- -87.5192
- Latitude
- 38.682
