A+ Self-Storage is a 245-unit facility totaling 28,050 rentable square feet on approximately 1.7 acres of land. The facility offers single-story drive-up units with an average unit size of 126 SF as well as uncovered vehicle parking spaces. With a physical occupancy rate of approximately 87% and an economic occupancy rate of approximately 80%, the property provides additional upside through occupancy gains as well as rental increases.
The construction of a gas station, car wash, and convenience store can be seen across Highway 199, and just to the north, a 60-unit KOA RV Resort is under construction. The town of Cave Junction is located in the southern Oregon Illinois Valley, approximately 50 miles from Crescent City, California, and 30 miles from Grants Pass, Oregon. Rouge Valley International Airport is located nearby and offers direct flights from Los Angeles, Phoenix, Denver, Las Vegas, Salt Lake City, San Francisco, Portland, and Seattle.
A+ Self Storage offers stable cash flow with upside potential through occupancy gains and rental increases. The property may also benefit from a remote management structure, reducing operating expenses. Additionally, an onsite apartment could be renovated and leased or converted to storage units, further enhancing revenue.