The Mele Group of Marcus & Millichap has been selected to exclusively market for sale the Junction City Self-Storage Portfolio. Acquisition of the self-storage portfolio demonstrates an excellent opportunity to acquire two cash-flowing facilities in Junction City, Kansas. Each location features convenient ingress and egress from Grant Avenue with several housing developments within close proximity. The portfolio boasts strong cash-on-cash returns of 10.3 percent and 15.0 percent in years one and two, in addition to leveraged IRRs of 21.4 percent and 22.8 percent in years five and seven. The portfolio also has a high physical occupancy of 88.2 percent. An investor can capitalize on the portfolio’s forward-looking financials and prime location just outside of Fort Riley; a well-renowned military base which covers over 101,000 acres and has a daytime population of approximately 25,000 individuals. Overall, the portfolio offers two, ideally-situated facilities with professional management and well-maintained units in a stabilized region of Geary County, Kansas.
The portfolio has 424 total units among its 51,658 rentable square feet. Combined, the subjects feature 405 non-climate controlled units and 19 boat/RV parking spaces. Each facility is lauded for excellent management, utilization of consumer-friendly self-service kiosks and units that are both secure and clean. The subject properties are located 0.3 miles from one another, allowing for a strong presence in the market and efficient management across the portfolio. The facilities boast advantageous search engine optimization and online visibility, in addition to the highest-rated reviews within the area. The properties are both secured with 24-hour computerized video surveillance, gating, perimeter-wide fencing and optimal lighting. Furthermore, both facilities offer wide drives, a 24/7 kiosk service, a tenant insurance program and a variety of storage options to accommodate all business, residential and recreational needs.
The subjects are ideally situated in Junction City, which serves as the seat of Geary County, Kansas. Junction City is home to the Fort Riley Military Base and offers a quaint suburban environment approximately two hours outside of Kansas City, Missouri. Junction City offers several natural amenities, excellent livability and a rich historical ambiance. The region offers several scenic views, lakes and nature trails which draw in outdoor enthusiasts from throughout Geary County. The area is well-renowned as the fishing capitol of Kansas and a center for agricultural tourism. Junction City offers premium access to Interstate 70 and U.S. Highway 77 and provides residents with bountiful resources, a high quality of life and convenient access to Fort Riley.
- Prime Opportunity to Acquire Two Cash-Flowing Facilities in Junction City, Kansas, Which is Home to the Well-Renowned Fort Riley Military Base
- The Facilities are Located 0.3 Miles from One Another, Allowing for a Strong Presence in the Market and Efficient Management Across the Portfolio
- Portfolio Demonstrates a High Physical Occupancy of 88.2 Percent
- Portfolio-Wide Cash-On-Cash Returns of 10.3 and 15.0 Percent in Years One and Two, in Addition to Leveraged IRRs of 21.4 and 22.8 Percent in Years Five and Seven
- The Eastern Facility May Be Expanded with Climate-Controlled Units in a New Building with Pad in Place and the Unused Office Space
- Situated Within Close Proximity of Several Residential Zones and Fort Riley Military Base, Which Consists of Over 101,000 Acres and a Daytime Population of over 25,000 Individuals