Listing Portfolios

Iron Gate Self Storage Portfolio - UNDER CONTRACT

NRSF - 289,302

The Mele Group of Marcus & Millichap is pleased to offer the Iron Gate Self Storage Portfolio. Acquisition of the six-property, self-storage portfolio provides an investor with solid coverage of the Elkhart County market, paired with the opportunity to increase revenue through raising rates to the market’s averages, continuing lease-up activity at the newly-expanded areas and further improving management efficiencies between locations. 

Of the six facilities located on a total of 37.05 combined acres, the portfolio boasts 1,466 units across 289,302 rentable square feet. The offering features fantastic growth potential with current physical and economic occupancies of 66.81 percent and 63.90 percent, respectively. Furthermore, three of the facilities offer the opportunity to further expand. Since January 2016, over $1.1 million has been invested on improving the facilities, including the construction of additional storage at several of the sites. 

Each facility is strategically situated in a high-visibility area surrounded by an ideal blend of residential and retail activity, and in proximity to multiple thoroughfares. The 20-mile radius that encompasses the portfolio has a current population of 507,787 and 189,596 households; this population has a higher per capita personal income than the state’s average and is projected to continue its steady growth. 

The Elkhart, Indiana MSA is comprised of Elkhart County in northern Indiana, bordering Michigan in an area referred to as Michiana. The high-growth county is surrounded by easily accessible railways and highways, including six state highways, four US highways and Interstates 69 and 80/90. The Indiana Business Research Center indicates that Elkhart’s population will continue to flourish at a rate higher than the rest of the state. The area ranked as the nation’s number one job growth area for both 2011 and 2012. Overall, Elkhart produces over 80 percent of all RVs in the United States, coining the region as the "RV Capital of the World." Numerous Elkhart-based RV companies have recently made the Fortune magazine’s list of the country’s 100 fastest-growing companies, such as Patrick Industries and Drew Industries, while many others have their headquarters situated in the county.

  • County Road 113 County Road 113
    53400 County Road 113
    Elkhart, IN
  • County Road 9 County Road 9
    52292 County Road 9
    Elkhart, Indiana
  • Johnson Street Johnson Street
    2921 Johnson Street
    Elkhart, IN
  • Middleton Run Road Middleton Run Road
    701 Middleton Run Road
    Elkhart, IN
  • Bloomingdale Drive Bloomingdale Drive
    818 Bloomingdale Drive
    Bristol, IN
  • State Road 13 State Road 13
    53070 State Road 13
    Middlebury, IN