106 Elizabeth Dr Saint Martinville, LA 70582
- Commercial real estate
- 1.21 lot acres
Current Use by Public Records
- Commercial real estate
Property Details for 106 Elizabeth Dr
- Lot size
- 1.21 lot acres
- Property type
- Commercial real estate
- APN
- 15801B2633
- APU
- 15801B2633
Description
This exceptional investment opportunity presents a 136-unit mini-storage facility situated on a 1.73-acre lot in St. Martinville, Louisiana. The property boasts 19,482 square feet of rentable space, currently achieving a remarkable 95% occupancy rate. The facility comprises seven single-story buildings, constructed in 2012, and includes 30 climate-controlled units and 106 non-climate-controlled units. All units operate on a month-to-month lease agreement. Generating a substantial net operating income (NOI) of $110,000, this property offers a compelling 7.00% capitalization rate. Current rental rates are below market value, presenting significant upside potential for increased profitability. The property benefits from low management costs and excellent maintenance. Included in the sale is 0.53 acres of additional land, providing an opportunity for expansion or future development. The property enjoys 309 feet of frontage on Elizabeth Drive and is located in a flood zone X area. The asking price is $1,500,000, translating to $80.66 per square foot. This is a turnkey operation with a proven track record of success, ideal for an investor seeking a stable and profitable addition to their portfolio. The property's APN is 15801B2633. The address is 106 Elizabeth Dr, St Martinville, LA 70582.
Value Estimation
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CAP approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Saint Martinville
- County
- Saint Martin
- State
- Louisiana
- Longitude
- -91.8224
- Latitude
- 30.1427
- CBSA code
- 29180
- CBSA name
- LAFAYETTE, LA METROPOLITAN STATISTICAL AREA
