CubeSmart Self Storage (Managed) — Sale in St Joseph, MO

  • Price: Contact for price
  • Listing type: For sale
  • Asset type: Business
  • Location: St Joseph, MO 64501
  • Year built: 1924

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Description

Marcus & Millichap is pleased to present the opportunity to acquire CubeSmart Self Storage(Managed), a compelling value-add self-storage investment opportunity in St. Joseph, Missouri. The property consists of 702 climate-controlled units totaling 69,770 rentable square feet and is professionally managed by CubeSmart. Originally constructed in 1924 and converted to self-storage in 2023, the facility offers investors the opportunity to acquire a modernized asset at a price significantly below replacement cost while capitalizing on substantial lease-up and rental rate upside. The facility is currently 33.6% physically occupied, creating an opportunity to increase cash flow through stabilization rather than relying on additional capital improvements. The offering projects Year 3 Net Operating Income of approximately $551,900, equating to a 9.2% cap rate at the $6,000,000 asking price. The property serves a trade area of more than 42,000 residents within three miles and approximately 76,700 residents within five miles. The immediate three-mile market remains under-supplied with only 4.93 square feet of storage per capita, while the subject property's climate-controlled online rental rates are approximately 42% to 46% below competing facilities, providing meaningful opportunity for future rate growth as occupancy improves. With institutional third-party management already in place, attractive seller financing available, below-replacement-cost pricing, and significant upside through lease-up and revenue optimization, CubeSmart (Managed) offers investors a rare opportunity to acquire a high-quality climate-controlled asset with multiple avenues for value creation. Investment Highlights: • Seller Financing Available • 69,770 SF of Climate Control Storage • Under Supplied Market (4.93 SF/Person in 3-mile radius) • Significant Upside in Rents and Occupancy • Strong Population (42k in 3-Miles / 76k in 5-Miles) • Priced Below Replacement Cost

Market Context

This commercial property in St Joseph, MO is listed for sale. The building dates to 1924. Compare it against other commercial property listings for sale in St Joseph, MO — view the full market.

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