Lake Michigan 2-Property Traditional Self-Storage Opportunity – Northern MI
Sold
NRSF
92,200
Northern Michigan
2-Property Portfolio
Strong Historical Operating Performance: Both facilities have a track record of steady occupancy and performance since 2016.
Room for Growth: Despite their established status, there are opportunities for revenue growth through increased occupancy, revenue management strategies, and tenant insurance implementation.
Strategic Location: Situated in two of Michigan’s most scenic and desirable communities, the assets benefit from the attractiveness of the area to both permanent residents and vacationers.
Diverse Recreational Opportunities: The proximity to Lake Michigan and the presence of extensive trails and state parks in both Manistee and Ludington make the properties appealing to a wide range of potential tenants and visitors.
Stable Real Estate Market: Northwest Michigan has shown resilience in its real estate market, with steady appreciation rates and a diverse economy supported by tourism, outdoor recreation, and local industries.
Remote Management: These sites currently operate as fully remote facilities allowing for seamless portfolio integration which adds to their appeal.
Scarcity of Comparable Assets: Self-storage facilities in desirable tourist destinations with room for growth may be limited, making the acquisition of these assets a unique opportunity for investors looking to diversify their portfolio.
Cushman & Wakefield’s Self-Storage Advisory Group has successfully sold this Northwest Michigan two property portfolio.
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