Downtown Self-Storage Modesto

Downtown Self-Storage Modesto2021-10-26T09:27:25-04:00

Project Description

The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale Downtown Self-Storage Modesto located in Modesto, CA.

Market Bid

NRSF – 20,618

The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for Downtown Self-Storage in Modesto, California.

The subject property represents a well-maintained storage asset comprised of 20,618 rentable square feet on approximately 0.32 acres of land. The facility
features 314 fully-climate-controlled options and one rental parking space for 315 total units. The site was built in 2017 and is impeccably located in the heart
of Downtown Modesto. The subject has current physical and economic occupancies of 98.4 percent and 62.62 percent, with ample room for growth. To ensure secure storage, the property utilizes a state-of-the-art security system and electronic gate code access, in addition to professional management and mailing/shipping services for consumer convenience.

The subject property is situated in the center of Downtown Modesto, California, with premium access to the area’s most frequented thoroughfares. The facility is accessible from 9th Street and L Street, which witness traffic counts of over 18,000 and 16,000 vehicles daily. Additionally, the site is approximately half a mile from Golden State Highway, a major roadway with a robust traffic count exceeding 133,000 vehicles daily. In addition to excellent vehicle traffic, the facility is encompassed by several national retailers and major resources within the immediate vicinity, including DoubleTree by Hilton, Wells Fargo, Bank of America Financial Center, U.S. Bank, Starbucks, McDonald’s, Modesto Junior College, and the internationally renowned E&J Gallo Winery, among several  other popular destinations. Furthermore, there are over 135,000 individuals within three miles of the facility with a renter-occupied population at nearly 40 percent. Downtown Self Storage Modesto serves as the premier storage option within the immediate trade area.

The subject property represents an excellent opportunity to acquire a state-of-the art storage asset in a centralized location with multiple upsides. The facility will benefit from the swelling population and limited competition within the immediate trade area. Additionally, an investor can capitalize by continuing to grow the economic occupancy and bolstering the current tenant insurance program for further profits. Downtown Self Storage Modesto encompasses the ideal components for the ideal storage investment with premium construction and amenities, a centralized downtown location, and a dense population within three miles of the site.

Investment Highlights

  • Premium Storage Asset with Multiple Upsides in the Heart of Downtown Modesto, California
  • Over 135,000 Individuals Within Three Miles and a High Renter Occupied Population Approaching 40 Percent
  • Facility Construction Consists of 100% Poured-in-Place Concrete with Steel Frame Additions
  • Benefits from Low SF Per Capita
  • Limited Competition Within the Immediate Vicinity and Serves as the Only Class A Climate-Controlled Option in the Trade Area
  • Convenient Access to the Region’s Major Thoroughfares and a CBD Location in Proximity to Businesses; Only CBD Self Storage Asset in the Area
  • Across the Street from a High Traffic Grocery Store and Surrounded by Several National Retailers and Major Resources, Including the E&J Winery, One of the Largest Winemakers in the World
  • State-of-the-Art Construction and a Centralized Location with Strong Demographics Comprise the Ideal Storage Investment for Years to Come
  • Sign CA to View Offering Memorandum

  • Confidentiality and Buyer Registration Agreement

    Cushman & Wakefield U.S., Inc. ("Broker") has been retained as the exclusive advisor and broker regarding the sale of the property known as Downtown Self Storage Modesto.

    To receive an Offering Memorandum ("Offering Memorandum") please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

    By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney's fees, collectively "Claims") arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

    By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Cushman & Wakefield, must be compensated by Buyer as Cushman & Wakefield is not cooperating on fees. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property's Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney's fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker's fees or finder's fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

    The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller's obligation thereunder have been satisfied or waived.

    The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

    No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.