investment highlights
- RESIDENTIAL DEVELOPMENT // The property is located close to strong residential development, sitting across the street from a 150 unit apartment complex and one-mile from the 83 home Copper Fox Estates community.
- BELOW MARKET RENTS // Grand Storage has advertised rates that are much lower than those of their competitors, ranging from 13 to 32 percent below the market highs.
- REVENUE UPSIDE // The owner has only increased rates once in their time of ownership. This summer they implemented a $5 increase on existing tenants and suffered little to no attrition.
- STRONG OCCUPANCY MARKET // The seller added two buildings in 2023 that leased up in less than six months. Butte, Montana has strong occupancy rates with most facilities occupancy in the low to mid 90 percent occupancy. With only seven square feet per capita, we anticipate occupancy remaining high.
property summary
Grand Storage is a 266-unit, 33,980 net rentable square foot self storage facility located in Butte, Montana. The property sits on 3.41 acres of land, was initially constructed in 2004 and was expanded in 2023. The property is comprised of 11 single-story self-storage buildings with 266 drive-up units.
Grand Storage has many amenities including electronic gated entry with a digital keypad and automatic gate at the exit, a manufactured house with office and one-bedroom apartment, metal roll-up doors and security monitoring with 24/7 video surveillance throughout the facility.
The facility is centrally located in Butte with excellent visibility from Holmes Avenue and over 9,400 passing vehicles per day. Located just a few blocks from Highway 2, there are major drivers in the immediate area such as Highland View Golf Course and Legion Oasis Apartments. Butte is a city with strong storage fundamentals and average household incomes exceeding
$67,000 a year.
