Oronoco, MN
$2,800,000
Oronoco Self Storage offers investors a great opportunity to own a high quality self storage facility in an affluent and growing market. The facility provides 38,074 rentable square feet with city approval to build three buildings that would add 20,800 rentable square feet. The land is prepped and ponding has been completed to accommodate additional buildings. Oronoco Self Storage is located right off of Highway 52 with visibility to over 30,000 cars per day. The property is asphalt paved and has a recently completed fence and gate system.
The facility is currently being operated by an owner without self storage management experience. While the quality of the facility is fantastic, the lack of management experience on behalf of the owner has resulted in poor revenue and occupancy management. This opportunity allows the new owner to implement a revenue management system, improve the online presence, and offer tenant insurance to improve profitability.
