Updated Oct 28, 2024
Merit Hill Capital Acquires Self Storage In Auburn For $21M
391 Nevada Street, Auburn, California 95603, United States
$21,000,000
$194/SF
Building Size
108,000 SF
Asset Type
—
Closing
Aug 23, 2022
About this deal
AI
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.
Players
Auburn CRE Market Snapshot
Boundary boundary · CRE · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.76%
Cash-on-Cash
-0.22%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93