Grandstone Investment Sales is pleased to exclusively present 118 Rowell Road, a self- storage investment opportunity located in Hampshire, Illinois. The property consists of 28,770 rentable square feet across four single-story buildings. Built in 2006 on a 1.95-acre site, the asset is 94.9% physically occupied (168 of 177 units), offering investors a well-leased facility with embedded
rental-rate upside: occupied units average approximately $90.89 per month in place, versus weighted current street rents of approximately $109 per month.
The offering is priced at a 7.26% cap rate on current NOI and an 8.56% cap rate on projected Year 1 NOI, with the yield on purchase price projected to reach 10.49% by Year 5. With occupancy already high, the business plan is rate-driven rather than lease-up dependent. Moving in-place rents toward current street rates over time, alongside professional management, is projected to grow NOI from $112,496 to approximately $162,637 by Year 5. Located within the growing Kane County market, the asset combines in-place cash flow with clear, achievable income upside.
INVESTMENT
HIGHLIGHTS
- SIGNIFICANT MANAGEMENT UPSIDE
With physical occupancy already at 94.9%, the property offers an opportunity to enhance performance through professional management, a disciplined existing-customer rate increase program, and improved operational systems, without relying on lease-up. - EMBEDDED LOSS-TO-LEASE
Occupied units average approximately $90.89 per month in place, versus weighted current street rents of approximately $109 per month, a gap of roughly 17%. Moving in-place rents toward street is projected to grow NOI from $112,496 to $162,637 by Year 5.
- STABLE IN-PLACE CASH FLOW
The asset benefits from existing occupancy of 94.9% (168 of 177 units) and a diversified tenant base, providing a stable revenue foundation with additional upside opportunities. - STRATEGIC KANE COUNTY LOCATION
Located in Hampshire, IL within Kane County, the property benefits from a growing suburban market with continued residential expansion and demand drivers supporting long-term self-storage demand. - ATTRACTIVE RETURN PROFILE
Offered at a 7.26% cap rate on current NOI, with projected NOI growth from $112,496 to $162,637 by Year 5, implying a 10.49% yield on purchase price at the end of a 5-year hold.
Brian Brockman | Bang Realty Inc | bor@bangrealty.com | License: 2009000214