Turnbull Equity Acquires Self Storage Portfolio In Crescent City For $15M
1065 McNamara Rd Crescent City, CA 95531, USA
$15,000,000
$100/SF
Building Size
148,670 SF
Asset Type
Self Storage
Closing
Jul 20, 2023
AI
A self storage property located at 1065 McNamara Rd., 176 Elk Valley Rd., 1565 S Railroad Ave., and 1880 Northcrest Dr. in Crescent City has been sold. The property spans a total of 148,670 square feet with a price per square foot of $101. The transaction took place on 07/20/2023.
Summary of transation details
- Property Type: Self Storage
- Transaction Amount: $15,000,000
- Buyer: Turnbull Equity
- Seller: Larry Hall & Gabriel Hall
- Brokers: Brandon Robinson & Ingla Robinson - Calvary Realty
- Asking Price: $15,000,000
The deal was facilitated by brokers Brandon Robinson and Ingla Robinson of Calvary Realty. They acted as representatives for the buyer and seller, respectively. The transaction price of $15,000,000 was agreed upon, matching the initial asking price. The property is located in Crescent City, providing a strategic location for the self storage asset.
Players
Crescent City Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
1.06%
Cash-on-Cash
-0.30%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93