2-Property, Stabilized Self-Storage Opportunity – Salem, OR
Sold
NRSF
164,751
2-Property
Salem, OR
Stabilized Assets: Two well-maintained, single-story self-storage facilities totaling 164,752 rentable square feet across 1,268 units
Strong Occupancy Rates: Glen Creek Road facility (93,252 SF) at 94% occupancy with $16.75 in-place rents; Blossom Drive facility (71,500 SF) at 89% occupancy with $16.66 in-place rents as of July 2024
High Consumer Demand: 88% of units are drive-up accessible, a highly sought-after feature for convenience
Strategic Locations: Glen Creek Road facility is in West Salem’s commercial core near downtown and major highways; Blossom Drive facility is near northeast Salem’s residential areas with easy access to Highway 99E and Interstate 5
Highly Stable Cash Flow: Portfolio generates over $2.48 million in in-place revenue with potential for rental rate increases and operating expense savings
Operational Synergies: Facilities located within a 15-minute drive of each other, offering efficient portfolio management and potential cost-saving opportunities
The Self-Storage Advisory Group of Cushman & Wakefield has successfully completed the sale of this 2-Property Self-Storage opportunity in Salem, OR.
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