112 11th St Lake Charles, LA 70601-6035

Property Details for 112 11th St

Lot size

0.00 lot acres

Property type

Warehouses

Property subtype

Self storage facilities

APN

1299204

APU

1299204

Description

This exceptional 70,050 square foot self-storage portfolio, located in Lake Charles, Louisiana, presents a compelling investment opportunity. Comprising two properties at 112 W 11th St and 2859 Ernest St, this 11-building, single-story complex boasts a total of 70,050 net rentable square feet situated on 2.97 acres. Built in 1998 and renovated in 2022, the portfolio currently enjoys a 71.86% occupancy rate, generating a net operating income (NOI) of $366,920, representing a 6.92% cap rate. Pro forma projections indicate a significant increase in NOI to $404,489 and a 7.63% cap rate, highlighting the substantial upside potential. The asking price is $5,300,000, translating to a price per square foot of $76, well below replacement cost in this rapidly growing market. Lake Charles, the fifth largest city in Louisiana, experienced a remarkable 17.9% population growth between 2010 and 2020. Its strategic location along the Gulf Coast, coupled with a robust energy sector, including major petrochemical and natural gas processing plants and significant LNG investments, ensures a stable and expanding economic base. The city benefits from well-developed infrastructure, including the Port of Lake Charles, a major US port facilitating energy product transportation. This combination of strong current performance, significant growth potential, and a favorable economic environment makes this portfolio an attractive investment.

Location Insight

City

Lake Charles

County

Calcasieu

State

Louisiana

Longitude

-93.2204

Latitude

30.2147

CBSA code

29340

CBSA name

LAKE CHARLES, LA METROPOLITAN STATISTICAL AREA

Property Tax & Assessments