investment highlights
- STRONG OCCUPANCY // The facility was built in 2019 and began renting units in early 2020. StorageMax has outperformed lease up projections and reach stabilization in 20 months. As of March 9th, 2021, the facility is 96 percent physically occupied.
- BELOW MARKET RENTS // The operator’s pricing strategy has been to be a low-cost option compared to market. Current rates are 5 percent to 12 percent market average and 9 percent to 35 percent below the top of the market.
- GROWTH MARKET // In March 2022, US Census named Kalispell, MT as the fastest growing Micropolitan Area in the country. From Discover Kalispell and the Kalispell Chamber of Commerce, “Kalispell ranks number 9 out of 543 micropolitan cities in the U.S. for long-term sustainable economic strength…with focus on bioscience & health care, advanced manufacturing, and tourism.”
- HIGH INCOME AREA // The average household income in the three-mile radius from the property is $95,836, nearly 17 percent higher than the average household income for Montana. Flathead County and its proximity to Glacier National Park has been a highly desired second home and relocating destination.
