SuperStorage of El Centro is comprised of 24,415 rentable square feet on approximately 1.42 acres of land. The facility offers 275 non-climate controlled and drive-up units, ranging from 10 square feet to 486 square feet. To ensure a secure premise, the facility is equipped with video surveillance, coded-entry gates, fencing and barred doors. The subject has physical and economic occupancies of 85.5 and 75.1 percent, respectively.
Furthermore, an investor has the unique opportunity to combine the facility with the purchase of the Imperial Valley Self-Storage Portfolio for a solid MSA footprint of five self-storage assets. To reduce on-site management expenses significantly, an automated kiosk system can be placed across the portfolio for maximum efficiencies. The facility offers excellent frontage directly along State Highway 86/Imperial Avenue, which sees traffic counts of over 28,500 vehicles daily. This thoroughfare serves as a major commercial corridor to the El Centro area. Surrounding the site are high number of renter-occupied housing units, historically shown to demonstrate a higher utilization of storage compared to owner-occupied housing units. Every competitor is located over a mile away, allowing the facility to serve as the main storage destination for these communities.
SuperStorage of El Centro allows an investor the ability to acquire a well-maintained and debt-free self-storage asset with multiple upsides, including forward-looking financials. SuperStorage boasts a year one cash-on-cash return of 12.2 percent and a year two capitalization rate of over 6.3 percent. In year five is a strong leveraged IRR of 23.1 percent.