overview video
investment highlights
- 61,590 NRSF CLASS A FACILITY // The property features 40,800 sq ft of climate controlled storage plus 48 enclosed boat/RV units and an acre of outdoor parking.
- PREMIUM 2009 CONSTRUCTION // Storage Plus of Lake Charles sits on approximately three acres delivering modern design, strong curb appeal, and minimal deferred maintenance.
- HIGHLY TRAVELED INDUSTRIAL CORRIDOR LOCATION // Directly adjacent to Chennault International Airport and positioned on LA 397, the primary commuter route between Lake Charles and the Cameron industrial plants. The property sees approximately 8,026 vehicles pass by daily.
- DEMAND SUPPORTED BY MAJOR INDUSTRIAL EMPLOYERS // Halliburton, West Wind Helicopters, EPS Dock, and Martin Midstream all have nearby operations.
- BELOW REPLACEMENT COST PRICING AT $46.27/NRSF // Offers an investor the chance to acquire a high quality, climate heavy facility at a materially discounted basis.
- EXCEPTIONAL FORWARD RETURNS // With a proforma year two cap rate of approximately nine percent and a leveraged five-year IRR approaching 25 percent, there is clear value creation runway through lease up, rate optimization, and continued industrial expansion in the Lake Charles–Cameron corridor.
- PORTFOLIO POTENTIAL // This offering is part of the Storage Plus and Top Lock Storage 5 State – 25 Property Portfolio, but can be purchased individually.
property summary
Storage Plus of Lake Charles is a 61,590 net rentable square foot self-storage facility in Lake Charles, Louisiana. The property offers 40,800 square feet of climate-controlled units as well as 48 enclosed boat and RV storage spaces. In addition, the facility has about an acre of outdoor gravel parking in front of the building. The property was built in 2009 and sits on approximately three acres.
Storage Plus of Lake Charles is located directly next to Chennault International Airport, an industrial center for the surrounding area. The property is situated on LA 397 (East Ward Line Road), the primary route connecting Lake Charles to the industrial plants in Cameron. The average daily traffic volume is 8,026. Plant workers choose to live in Lake Charles and commute to Cameron, passing by Storage Plus of Lake Charles on their way to and from work. Employers in Cameron include Halliburton, West Wind Helicopters, EPS Dock, and Martin Midstream.
Storage Plus of Lake Charles offers an investor the opportunity to acquire a high quality facility at a price point significantly below replacement cost. The upside is substantial, with a proforma year two cap rate of nine percent and a leveraged IRR approaching 25 percent. With strong demand drivers, premium climate controlled inventory, and meaningful operational and revenue optimization potential, the asset provides a clear path to enhanced cash flow and long term value creation.
