Lake Michigan 2-Property Traditional Self-Storage Opportunity – Northern MI

Under Agreement
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 been retained as exclusive advisors to offer for sale this Northwest Michigan two property portfolio.

This offering presents an exceptional opportunity to acquire two well-established self-storage facilities in Northwest Michigan, conveniently located just twenty-five minutes apart. Both properties have been locally operated since 2016 and offer steady occupancy rates. These two facilities have operated as fully remote sites since opening in 2016/2018 which allows for seamless ownership transition.

Both locations are located along the picturesque west coast of Michigan, providing residents and vacationers access to Lake Michigan. Manistee offers a plethora of outdoor recreational opportunities, including over 150 miles of trails for hiking, skiing, and snowshoeing. Meanwhile, Ludington is home to Ludington State Park, spanning over 5,300 acres and offering activities such as camping, fishing, and hiking.
This unique opportunity allows investors to acquire two well-performing assets with strong historical operating performance, situated in two of Michigan’s most beautiful communities. With room for growth and strategic management, these facilities offer the potential for attractive returns in the self-storage market.

Michigan Self-Storage-Manistee:
Established in 2018 and expanded as recently as 2022, Michigan Self-Storage-Manistee spans six acres and boasts 56,200 rentable square feet of non-climate-controlled storage space. This modern facility is operated fully remote and offers clean and secure storage units with 24/7 rental capability. Acquiring Manistee presents the opportunity for seamless integration into a portfolio, with potential revenue growth through lease-up optimization and tenant insurance implementation.

Michigan Self-Storage-Ludington:
Established in 2016, Michigan Self-Storage-Ludington offers 36,000 rentable square feet across 219 units. Featuring a mix of drive-up non-climate-controlled units and outdoor parking spaces, Ludington operates as a fully remote facility. This site is approved for an additional 18,000 NRSF. Like Manistee, acquiring Ludington offers potential revenue growth through increased occupancy and tenant insurance adoption.




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