106 Elizabeth Dr, Saint Martinville, LA 70582

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.

Location Insight

City

Saint Martinville

County

Saint Martin

State

Louisiana

Longitude

-91.8224

Latitude

30.1427

CBSA code

29180

CBSA name

LAFAYETTE, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments