The Self-Storage Group of Cushman & Wakefield has been selected to exclusively market the sale of a property located in Wilsonville, OR.

Wilsonville RV & Boat Storage is a 329-unit Boat and RV storage facility situated on a 5.74-acre parcel in the Wilsonville submarket of the Portland metro area. The property is consistently over 95% occupied with a waiting list of customers. In-place rents are 28.8% below market providing immediate upside, and given the location, the property could also cater to the emerging outdoor industrial storage sector.
Property features include a paved parking field, permitter fencing, exterior lighting, and secure keypad entry. A manufactured structure includes an office and 1 bedroom 1 bath apartment. An onsite manager is responsible for day-to-day management as well as standard maintenance.
The property is located in the highly desirable Wilsonville submarket with convenient access to I-5 and I-205, attractive demographics and significant nearby amenities. Wilsonville RV & Boat Storage allows an investor the opportunity to capitalize on a highly functional asset with a strong in-place cash flow, identifiable value add opportunities and an exceptional Portland submarket.

EXCELLENT INVESTMENT OPPORTUNITY

• Priced at $6,000,000
• Net Operating Income of $372,738 (trailing) and $433,788 (proforma)
• 6.2% Cap Rate (trailing), 7.23% Cap Rate (proforma)

STRONG OCCUPANCY HISTORY WITH SIGNIFICANT VALUE ADD POTENTIAL

• Historically strong occupancy with wait list for prospective tenants.
• In place rents are 15.9% below asking and 28.8% below market averages providing significant and immediate upside potential.
• Location and zoning make the property extremely well suited for industrial outdoor storage opportunities.

HIGHLY FUNCTIONAL ASSET IN TURNKEY CONDITION

• Significant street frontage, with ingress/egress directly off SW 95th Avenue and two complete freeway interchanges nearby offering convenient access for RV users.
• Paved and lighted parking field, permitter fencing and keypad entry system.
• Management office and apartment with existing manager in-place.

STRATEGIC WILSONVILLE SUBMARKET

• Wilsonville is strategically located along I-5 approximately 17 miles south of downtown Portland with excellent access to I-5 and I-205.
• High barrier to entry market with strong demographics including 2.3% annual population growth projected over next 5 years.
• 644 housing units (520 single family & 144 multi-family) recently permitted or under construction nearby.
• Median HH income of $103,090 within a 3-mile radius