Merit Hill Capital Acquires Self Storage In Auburn For $21M
SOLD
$21,000,000
California
See Similar Deals108,000 SF
Sold 08/24/2022
SOLD
Merit Hill Capital Acquires Self Storage In Auburn For $21M
391 Nevada Street, Auburn, California 95603, United States
See Similar Deals108,000 SF
Sold 08/24/2022
Summary
CALIFORNIA
Price Per Square Foot:$194
Total Square Footage:108,000 SF
Transaction Type:Sale
A self storage property located at 391 Nevada Street & 12035 Shale Ridge Road in Auburn has been sold for $21,000,000. The transaction took place on 08/24/2022. The property consists of 938 units and has a total square footage of 108,000. The price per unit is calculated at $22,388 and the price per square foot is $194.
Summary of transaction details
- Property Type: Self Storage
- Transaction Amount: $21,000,000
- Units: 938
- Price per Unit: $22,388
- Square Footage: 108,000
- Price per Square Foot: $194
- Address: 391 Nevada Street & 12035 Shale Ridge Road, Auburn
- Market: Auburn
The buyer in the deal is Merit Hill Capital. The broker representing the buyer is Morgan Windbiel from the Self Storage Advisory Group at CBRE.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$1,120,000.01
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$74,608.56
Cash-on-Cash Return-1.27%
Monthly Debt Service$99,550.71
Annual Debt Service$1,194,608.56
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