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3980 Turner Ave, Plano, IL,...

Marcus & Millichap Sells Store More On Route 34 Self-storage Facility, Plano
SOLDSelf Storage

Marcus & Millichap Sells Store More On Route 34 Self-storage Facility, Plano

3980 Turner Ave, Plano, IL, 60545

Building Size

49,500 SF

Asset Type

Self Storage

Closing

Jun 6, 2019

AI

The property involved in the transaction is a 49,500-square foot, 395-unit self-storage facility located in Plano, Illinois. The facility, known as Store More on Route 34, is strategically positioned at 3980 Turner Avenue along Route 34. The property includes 17 climate-controlled units, 97 boat/RV parking spaces, and 280 drive-up units. Key features of the facility are keypad access, electronic gate entry, superior lighting, and a comprehensive video surveillance system.

Summary of transation details:

Jeffrey L. Herrmann and Sean M. Delaney, from Marcus & Millichap’s Chicago Oak Brook office, were the individuals who exclusively marketed the property on behalf of the seller and represented the buyer in the sale of Store More on Route 34. Sean M. Delaney, a senior vice president investments, and Jeffrey L. Herrmann, an associate, played vital roles in facilitating the transaction.

Players

Sean Delaney

Marcus & Millichap

Broker

$27.8M

vol

8 deals

Broker

Plano 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

5.80%

Cash-on-Cash

-1.66%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93