Plattsburgh Storage Units Offering
SSSE is proud to present a recession resilient project consisting of optimizing an existing, high occupancy self storage facility that is already set up for remote management. The cash-flowing 22,427 net rentable square foot facility has a dysfunctional website and no marketing, posing simple value-add in a strong valuation market. This Plattsburgh, NY project allows for multiple exit strategies to mitigate downside risk and provides a 6% preferred return, targeted IRR of 16% - 20%, and 2x return to investors in 5 years or less. There is an estimated $0.32 - $0.47 in 2026 depreciation for every $1 invested.
This is a 506(b) syndication available to investors with a pre-existing relationship to the Sponsor
The Offering
6% Preferred Return
Estimated Depreciation per $1 Invested: $0.32 - $0.47
16% - 20% Targeted IRR
5 Year Term
1.8x - 2.2x Targeted Equity Multiple
Cash Flowing Immediately
The Investment Overview
Simple Value Add
The facility currently has a dysfunctional website, bad management software, and no marketing whatsoever
Room to Expand
The facility is 22,427 NRSF with room for expansion: RV & boat parking are immediate value-add
Low Economic Occupancy
At an average economic occupancy of 70%, there is room to optimize existing renters’ rates
Great Location
4,500 average annual daily traffic on its frontage and located near the interchange of I-87, Hwy 314, & Route 9
Existing Cash Flow
The property already has solid occupancy and is cash flowing from the start
Great Construction
The facility is already set up for remote management and has geothermal for heating/cooling
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