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| Property Type: |
Traditional |
Room for Expansion: |
Yes |
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Acreage:
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4.76 Acres |
Brokerage:
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Marcus & Millichap
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Advertisement
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List Self Storage (
ListSelfStorage.com) is proud to feature
Big Storage for sale
. Situated in the Stockton-Lodi, CA Metropolitan Statistical Area, this acquisition offers an investor a quality self storage asset with the potential to increase returns by raising rates to reflect the market's averages and continuing lease-up activity at the newly-constructed buildings, along with the opportunity to further expand the facility to offer standard self storage.
Big Storage is comprised of 50,230-rentable square feet among 85 drive-up units designated for boat, RV and commercial storage. The facility features wide aisles for easy access to units and excellent security, including personalized gate codes, unit door alarms, fire sprinklers, a monitored fire alarm system and strategically-placed video surveillance. The ADA-compliant asset has full fiber mesh concrete paving, insulated ceilings resulting in cooler units, galvanized steel with all metal components powder-coated to prevent chipping and 10-gauge steel for purlins and girts to support each structure. A sand oil trap was installed to collect underground waste from vehicles.
In December 2016, an expansion of approximately 23,560-rentable square feet was completed, resulting in two new buildings. An occupied, single-family residence is included in the sale and can be converted to storage to further generate revenue. The expansion opportunities are fully entitled with permits.
Located at 495 and 499 North Guild Avenue in Lodi, California, the facility resides in the city's northeastern industrial development corridor, bordering Lodi's newer neighborhoods in addition to Eastside and Downtown Lodi. The five-mile population surrounding the facility has 76,837 individuals and 27,051 households with a projected 0.7% annual rate of growth from 2017 to 2021. The subject is 0.2 miles east of State Highway 12 and 0.7 miles northeast of State Highway 99, with traffic counts of over 10,300 and 66,000 vehicles per day, respectively.
Lodi is a principal city of the Lodi-Stockton MSA, consisting of San Joaquin County. The county is a component of the larger San Francisco-Oakland Combined Statistical Area, the fifth most populous CSA in the nation. Since 2000, Lodi has benefited from an overall population growth of 24.53%.
READ MORE
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Daniel Kuchugurny
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Daniel Kuchugurny is a self storage advisor with The Mele Group of Marcus & Millichap, focusing on Northern California. Prior to joining The Mele Group, Daniel helped both experienced and first-time clients realize their financial aspirations and find paths to reach their goals as a mortgage loan originator. As a young refugee from eastern Ukraine after the fall of the Soviet Union, Daniel knows what it is like to work hard to achieve the American dream. And as a commercial real estate advisor with The Mele Group of Marcus & Millichap, he continues his passion in helping others obtain that same dream. Daniel is a member of the California Self Storage Association (CSSA), the Young Leaders Group (YLG) and the Self Storage Association (SSA). Daniel studied business administration with a concentration in entrepreneurship at California State University Sacramento.
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Luke Elliott
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Luke Elliott is with The Mele Group of Marcus & Millichap and specializes in self storage. He is a director of the National Self Storage Group, member of the Self Storage Association and Florida Self Storage Association. Luke has partnered with owners for over 15 years, providing advisory and transactional expertise. Luke currently serves as the Florida Self Storage Association's president and is also on the Board of Directors for the Self Storage Association's Young Leaders Group. Prior to joining Marcus & Millichap, Luke was a senior associate with Prudential Commercial Real Estate Florida, in the firm's Industrial Services Group. Luke has been a consistent recipient of the Pinnacle Award in recognition of his transaction volume. At Marcus & Millichap, he received a
Sales Recognition Award in 2014 and earned the prestigious
National Achievement Award in 2015 and 2016. Throughout his career he has represented institutions, companies and investors on both national and local levels, advising them on the disposition of their assets as well as acquisition strategies.
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Michael Mele
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Michael A. Mele joined Marcus & Millichap in 1999 as an agent, rising to associate in May 2000, senior associate in May 2002, senior investment associate in July 2005, vice president investments in January 2008 and senior managing director investments in 2014. His product specialty is self storage. He has closed over 300 self storage transactions totaling over $1.57 billion in sales volume and has achieved senior director status in the National Self-Storage Group. For consecutive years, Mr. Mele has been the recipient of Marcus & Millichap's
National Achievements Award,
Chairman's Club Award and the most coveted accolade, the
Chairman's Circle of Excellence Award. Mr. Mele is a graduate of West Chester University, where he earned a B.S. degree. He is a member of the National Self-Storage Association and the National Association of Realtors. He is currently on the legislative committee for the Florida Self Storage Association as well as the prior president. With almost two decades of experience as a self storage advisor, Mr. Mele provides significant insight for his clients, ranging from single, private investors to large-scale REITs. His experience and vast contributions to the industry have made him a key advisor in the self storage market. He has been recognized and interviewed over 50 times by multiple publications including
Inside Self-Storage,
Mini Storage Messenger and
The Wall Street Journal for his critical leadership, expertise and knowledge of the self storage industry.
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