830 N 6th St - LifeStorage
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830 N 6th St - LifeStorage
61,419 SF Specialty Building Offered at $8,900,000 in Lafayette, IN 47904
INVESTMENT HIGHLIGHTS
- Extremely high barriers to entry as Lafayette has placed restrictions essentially banning any new development.
- New development in Lafayette, IN.
- Class A facility with Certificate of Occupancy issued August 2022.
- Excellent unit count with a plethora of parking on approximately 2 acres.
EXECUTIVE SUMMARY
Life Storage (3rd party managed by Extra Space) is a new Class A conversion and expansion which opened on August 23, 2022. Ideally located on the corner of N. 6th Street & Salem Street, it encompasses an entire block bordered by N. 6th Street on the east, N. 5th Street on the west, Salem Street (main one-way westbound street into West Lafayette) on the north and Union Street (main one-way eastbound street into out of West Lafayette) on the south. Lease-up has been exceptional; facility is 100% occupied in a twenty-four month (24) span.
Strong demographics and strong job growth in the overall trade area.
A major development that was announced for West Lafayette is that South Korean company, SK Hynix, is building a $4 billon dollar semiconductor packaging facility at the Purdue Research Park.
Strong demographics and strong job growth in the overall trade area.
A major development that was announced for West Lafayette is that South Korean company, SK Hynix, is building a $4 billon dollar semiconductor packaging facility at the Purdue Research Park.
PROPERTY FACTS Under Contract
| Price | $8,900,000 | Lot Size | 2.71 AC |
| Price Per SF | $144.91 | Building Size | 61,419 SF |
| Sale Type | Investment | No. Stories | 1 |
| Property Type | Specialty | Year Built | 2022 |
| Property Subtype | Self-Storage | Parking Ratio | 0.68/1,000 SF |
| Building Class | B | Opportunity Zone |
Yes
|
| Price | $8,900,000 |
| Price Per SF | $144.91 |
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 2.71 AC |
| Building Size | 61,419 SF |
| No. Stories | 1 |
| Year Built | 2022 |
| Parking Ratio | 0.68/1,000 SF |
| Opportunity Zone |
Yes |
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Walk Score®
Very Walkable (77)
Bike Score®
Very Bikeable (72)
PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | $2,890,400 | |
| Land Assessment | $834,200 | Total Assessment | $3,724,600 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
$834,200
Improvements Assessment
$2,890,400
Total Assessment
$3,724,600
ZONING
| Zoning Code | Commercial |
| Commercial |
CONTACTS
-
Schick & Associates Inc Robert Schick -
Amy
Hitchingham
- Schick & Associates Inc
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Schick & Associates Inc
830 N 6th St - LifeStorage
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