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:
- Property Type: Self Storage
- Transaction Amount: Not disclosed
- Market: Plano
- Buyer's Rep: Sean Delaney(Marcus & Millichap)
- Seller: Unknown
- SF: 49500
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
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