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  • For sale

For Sale

$11,200,000 USD

Colliers’ de Jong | Becher Self Storage Team has been retained as the exclusive advisor by the ownership to offer for sale the property located at 13300 E Highway 20, Clearlake Oaks, CA 95423. The property is fully stabilized retail and selfstorage asset built from 1976 - 1981 with a combined total of 93,070 net rentable square feet in 476 units/spaces. This owner managed facility will be delivered on an as-is, whereis basis and has consistently maintained +/- 97% occupancy at a weighted average rental rate of $0.89/SF. Very limited competition in the area with zero competitors within 4-miles of the subject property. In-place income for the first six months of 2022 were reported by the ownership at $335,203 for an annualized NOI estimate of $670,406. The property is offered for sale with a suggested price of $11,200,000 or a 5.8% CAP rate on projected year one NOI of $648,740.

Sale Note
The property at 13300 E Highway 20 is located on a primary arterial through Clearlake Oaks with signage on Highway 20 and excellent visibility and access. Big Oak Center is located in an area with limited retail or self-storage supply. The property is offered free and clear of any debt allowing the investor/buyer to acquire the property utilizing their own preferred debt/equity deal structure.