Portland, IN Self Storage Offering
Self Storage Syndicators (SSSE) is proud to present a self storage facility in Portland, IN. The project is raising rents at the fully occupied 44,755 NRSF, 385 unit facility while rolling out conveniences like a website to rent and pay online. This facility is the only facility in town with two small facilities with high occupancy and much higher rates as the only competitors a drive away. Over the 5 year investment term, investors can experience a 15.6% targeted IRR, 2.05x targeted equity multiple, and bonus depreciation of $0.97 per dollar invested in 2022. This is a 506(b) offering available to investors that have an existing relationship with us.
SSSE provides investors access to tax-advantaged self storage investments with an emphasis on downside mitigation and social stewardship.
Investment Summary Video
The Offering
Reg D 506(b) Offering
Estimated Depreciation: $0.97 per $1 Invested
15.6% Targeted IRR
5 Year Term
2.05x Equity Multiple
$25,000 Minimum Investment
The Investment Overview
100% Occupied Facility
The facility is already cash flowing and fully occupied which helps mitigate against downside
Almost No Competition
No competitors within town limits; just two small facilities outside of town
Extremely Low Rents
Current rates are at ~25% of the national average rent per square foot ($0.33 vs. $1.16)
44,755 Net Rentable Square Footage (NRSF)
Appealing size for future buyers with 385 units and room to expand
Buying at 50% of Replacement Cost
$36 per square foot vs. $70 per square foot replacement cost
Easy Improvements
The facility currently does not have a website or the ability to take payment online or over the phone
Low Supply Index
The subject facility has a 3.48 supply index vs. the national average 6 supply index
Minimal Construction
Great condition with installing a gate and finishing metal roof conversion
Attractive Unit Mix
Other facilities are small with only 5’ x 10’ units; this facility has a variety of sizes
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