Mustang Storage, located in McPherson, KS, presents the right investor with a tremendous value add opportunity.
The 136,696 SF, 413 Unit facility is made up of traditional self-storage, “shop” space (automotive storage and workspace), warehouse, and indoor and outdoor parking.
The property is located adjacent to McPherson College, which has an Automotive Restoration Program that takes advantage of the “Shop” space and the facility being located across the street.
The facility is currently 69% occupied and a new owner could significantly increase Net Operating Income by increasing occupancy without pushing in-place rents.
By implementing an effective marketing plan and putting an on-site manager/sales office at the facility will result in greater occupancy and therefore increased income.
- T-12 NOI: $158,199 - 6.33% CAP Rate
- Stabilized in Year 3 with NOI of $260,408
- 10+% CAP Rate - Pro Forma
- 136,696 SF
- 413 Total Units
- 183 - "Shop" Units
- 168 - Standard Self Storage
- 9 - Warehouse
- 53 - Parking Spaces
Full financials available upon request.