David Cramer Of National Storage Affiliates Acquires Self Storage Facility In Hollister For $6.5M
180 San Felipe Road
$6,500,000
$217/SF
Building Size
29,926 SF
Asset Type
Self Storage
Closing
May 12, 2025
AI
The self-storage facility at 180 San Felipe Road in Hollister has sold for $6,500,000. The asset, consisting of 330 units, has a total square footage of 29,926. The price per unit is approximately $19,697, while the price per square foot is around $217.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $6,500,000
- Buyer: David Cramer - National Storage Affiliates
- Seller: Mechanics Banks
- Broker: The De Jong | Becher Self Storage Team - Colliers
- Units: 330
- Square Footage: 29,926
- Price Per Unit: $19,697
- Price Per Square Foot: $217
David Cramer represented National Storage Affiliates in the acquisition of Hannigan’s Mini Storage, which will be rebranded under Right Space Storage following the purchase. Mechanics Bank acted as the trustee for the John A Maki Trust in this transaction.
Hollister 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
2.44%
Cash-on-Cash
-0.70%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93