708 29Th St Monroe, LA 71201
- Industrial properties
- 21,250 SF
- 1.38 lot acres
Current Use by Public Records
- U-Haul Neighborhood Dealer / Trailer Rental Service / Storage Facility
- Executive Storage Systems / Warehouse
Property Details for 708 29Th St
- Year built
- 1984
- Lot size
- 1.38 lot acres
- Property size
- 21,250 SF
- Property type
- Industrial properties
- APN
- 33043
- APU
- 33043
Description
This Monroe, LA, self-storage facility presents a compelling investment opportunity. Boasting 21,720 rentable square feet across 124 units within a 60,156 square foot building on a 1.38-acre lot, the property enjoys a 79% occupancy rate, generating a NOI of $217,061 (pro-forma NOI of $300,968). Built in 1984, this single-story structure benefits from light industrial zoning and offers significant expansion potential. The property includes climate-controlled units and an on-site manager, further enhancing its appeal. Its strategic location in Monroe, Louisiana's ninth-largest city, within a metro area exceeding 200,000, ensures high visibility and strong traffic counts. Additional revenue streams are generated through U-Haul truck rentals and box sales, solidifying its position as a top 100 U-Haul dealer in North America. The property's strong online reputation is reflected in its 4.2-star Google rating. The asking price is $2,600,000, representing a cap rate of 8.35% and a price per square foot of $43.22. This mixed-use property, zoned for light industrial use, offers a unique blend of office, warehouse, and self-storage capabilities. The property's current price per unit is $20,967.74. This investment presents a rare chance to acquire a well-established, high-performing asset in a thriving market.
Value Estimation
-
AI approach
- CAP return
- Estimation
- Estimation
- $435,000
-
CAP approach
- CAP return
- Estimation
- 6%
- $430,000
- 6.5%
- $465,000
- 7%
- $425,000
-
Comparable approach
- Method
- Estimation
- Relative Method
- $455,000
- Geo Method
- $535,000
-
Alternative Use
- Use
- Estimation
- Distribution
- $400,000
- Retail
- $490,000
- Mixed-Use
- $500,000
- Hospitality
- $475,000
- Educational
- $435,000
- Residential Income
- $415,000
- Energy
- $520,000
- Income-Based Land
- $415,000
- Food Service
- $465,000
Location Insight
- Map
- Local Demand
- City
- Monroe
- County
- Ouachita
- State
- Louisiana
- Longitude
- -92.0918
- Latitude
- 32.5298
- CBSA code
- 33740
- CBSA name
- MONROE, LA METROPOLITAN STATISTICAL AREA
