The Cushman & Wakefield Self Storage Advisory Group has been retained as exclusive advisors to sell Osprey Storage Premier of Mankato, MN. This offering represents an exceptional opportunity to acquire a recently built state of the facility comprised of 78,144 rentable square feet on 1.8 acres of land, while delivering significant upside potential.
Built in 2019 the facility consists of 776 climate-controlled units and currently sits at 46% physical occupancy and 35% economic allowing an investor to dramatically increase overall performance and occupancies while realizing strong increases to cash flow day one. Fronting on Premier Dr. the facility is positioned to take advantage of the lack of competition within the immediate one-mile trade area while seeing an average household income of $95,863 within the market. Osprey Premier is highly visible to traffic on Hiawatha Pioneer Trail which sees 14,200 cars per day. Additionally, the property lies in the vicinity of a number of regional and national retail locations including River Hills mall and Mankato Golf Club.
This Class-A property features state of the art construction as well as a wide variety of options to be one of the premier storage locations delivered within Mankato. An investor will see positive cash flow and will benefit from substantial increases in returns simply by stabilizing the facility and bringing rents to market. The fully climate-controlled facility offers an investor the opportunity to garner a major footprint within the market with a single purchase. Osprey Storage Premier represents the ideal investment for on owner to take advantage of the early lease up by implementing their own management and realizing day one NOI growth.