Thief River Falls, MN
$720,000
Legacy Self Storage is a newly built, all-steel drive-up facility at 18507 US Highway 59 NE in Thief River Falls, Minnesota. It has 98 drive-up units across 16,900 square feet, ranging from 10×10 to 10×40. It also has five 10×40 parking spaces totaling 2,000 square feet, for about 18,900 rentable square feet in all. Built in 2024, the facility sits on the west side of Highway 59, about 1.5 miles north of Highway 1, with strong visibility and easy access. It is currently 68.9% unit and 71% economically occupied, and its parking is fully leased. The facility is offered at a 7.63% cap rate on in-place rents, or $42.60 per square foot. That means a buyer acquires brand-new product with the operating systems already in place and keeps all of the remaining lease-up upside. The facility is owner-operated on Storable Easy software, with 24-hour access, online rentals and bill pay, and a 5-star Google rating.
