2-Property Self-Storage Portfolio Opportunity – Louisville, KY

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Price
Market Bid
NRSF
140,675
Louisville, KY
2-Property Portfolio
Two class-A facilities totaling 140,675 RSF
Both recently built in 2019 & 2020
Louisville has ranked as in the “Next 25 Top Tech markets” the last 4 years
Both facilities have excellent visibility along major roadways, with an average daily traffic volume of 46,274 vehicles going directly by the two facilities
Significant occupancy and rate upside
5-Year Levered IRR expected in the mid to high teens

Cushman & Wakefield’s Self-Storage Advisory Group has been exclusively retained by The Sterling Group to offer for sale the Mini Storage Depot Louisville, KY Self-Storage Portfolio Opportunity.

This offering presents an excellent opportunity to acquire 2 class-A self-storage facilities located in the growing Louisville, KY MSA. Sitting amongst
the top 50 MSAs in the US, Louisville has emerged as a hub for new economic development with $2.1 billion in investment creating over 3,500 jobs in 2022. The metro has also ranked amongst the “Next 25 Top Tech Markets” for the last 4 years, highlighting markets poised for tech industry expansion. Louisville’s population has seen continued growth in recent years, reaching 1.13 million residents in 2023. The metros below average cost of living and strong job market continues to attract new residents and further economic development.

The first facility is located along Bardstown Road, which provides direct access to downtown Louisville just under 8 miles away. Built in 2020, the class-A facility totals 67,050 rentable square feet with one 3-story climate-controlled building and 4 single-story buildings with drive-up units. The facility offers 111 climate-controlled first-floor units, 251 climate-controlled elevator accessible units, and 156 drive-up units. With extensive frontage along Bardstown Road, the facility benefits from the roughly 33,000 annual average daily traffic volume passing directly next to facility. Situated in a densely populated trade area, there is an impressive population of 105,221 residents living within a 3-mile radius. Just under 2 miles from the facility is the massive GE Appliance Park, a 1,000-acre manufacturing complex employing over 7,100 people. The facility currently has a physical occupancy of 81%.

The second facility is located on the corner of Greenwood Road and Greenbelt Highway which provides direct access to the nearby center of downtown Louisville. The combined annual average daily traffic volume of these two roads is an excellent 59,548 vehicles, all with a direct view of the facility. The 73,625 rentable square foot facility, built in 2019, includes 319 climate-controlled interior units, 266d rive-up units, and 55 parking spaces. Nearby the facility is the world-famous Churchill Downs horse racing track, home to the prestigious Kentucky Derby held every year. Also located nearby is the University of Louisville, the second-largest college in the state with 20,500 students enrolled. The facility is currently achieving a 76% physical occupancy.

Take advantage of the opportunity to acquire two nearly stabilized class-A self-storage facilities located in Louisville, KY. The Louisville market has seen continued growth in recent years, establishing itself as an economic development hub and attracting new tech jobs to the area. The proximity of the two facilities allows investors to establish or expand their presence with increased management efficiency. This portfolio provides the opportunity to acquire over $577,000 of in-place NOI with significant occupancy and rate upside.

Louisville, KY

  • Sign CA to View Offering Memorandum

  • Confidentiality and Buyer Registration Agreement

    Cushman & Wakefield U.S., Inc. ("Broker") has been retained as the exclusive advisor and broker regarding the sale of the property known as the Louisville, KY Self-Storage Portfolio opportunity.

    To receive an Offering Memorandum ("Offering Memorandum") please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

    By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney's fees, collectively "Claims") arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

    By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Cushman & Wakefield, must be compensated by Buyer as Cushman & Wakefield is not cooperating on fees. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property's Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney's fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker's fees or finder's fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

    The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller's obligation thereunder have been satisfied or waived.

    The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

    No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.



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