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.
On the Map
$21,000,000
$194/SF
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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