Grandstone is pleased to present Sudz Car Wash and Self Storage, a unique investment opportunity located at 3711 W National Rd in Richmond, Indiana. This facility features 172 non-climate controlled self storage units totaling 22,000 NRSF, along with an on-site car wash on a 3-acre lot. In addition, there are two multi-use buildings adding an additional 8,827 square feet for additional income generation. The self-storage units are currently 90% physically occupied with minimal marketing investment and value add potential.
Richmond’s self-storage market is underserved, with just 6.8 NRSF per capita within a 5-mile radius, well below the national average. This, combined with strong population growth and rising household incomes, positions the facility to capture increasing demand.
INVESTMENT
HIGHLIGHTS
- Value Add and Expansion:
– Room for major rent increases on the self-storage side.
– Two vacant commercial spaces totaling 8,827 square feet can be leased for commercial purposes or converted into storage. - Strategic Location & Visibility:
– Located along National Road West (U.S. 40), a major corridor with an annual average daily traffic count (AADT) of over 11,900 vehicles, ensuring excellent exposure.
– Close proximity to retail, residential neighborhoods, and key local employers - Low Market Saturation: Richmond’s market has only 6.8 NRSF per capita within a 5-mile radius, compared to national averages between 7-9 NRSF, indicating untapped demand.
- Diverse Revenue Streams:
– Income from 155 self-storage units with additional outdoor parking.
– Fully operational on-site car wash provides additional income and customer draw. - Strong Market Fundamentals:
– 41,000 residents within a 5-mile radius with projected population growth in the 1-, 3-, and 5-mile radii over the next 5 years.
– Median household income expected to increase by 2.5%, further boosting affordability and demand for storage.
Brian Brockman | Bang Realty Inc | Bor@BangRealty.com | License: RB14037939
