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RDAA Express Inc. Acquires Self Storage In Aurora For $2M On Ridgeway Avenue

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SOLD
$2,000,000

Illinois

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Self Storage23,820 SF
Sold 06/24/2024
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Property Image
SOLD

RDAA Express Inc. Acquires Self Storage In Aurora For $2M On Ridgeway Avenue

901 Ridgeway Avenue

See Similar Deals
Self Storage23,820 SF
Sold 06/24/2024
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Summary

ILLINOIS
Asset Type:Self Storage
Price Per Square Foot:$84
Total Square Footage:23,820 SF
Transaction Type:Sale

Located in Aurora, Illinois, the industrial storage property at 901 Ridgeway Avenue spans 23,820 square feet on 3.18 acres of land. The property was recently sold for $2,000,000, showcasing high demand for industrial outdoor storage facilities in the region. Boasting four buildings and substantial outdoor storage and parking space, the property stands as a strategic investment in a prime location near Chicago.

Summary of transaction details:

  • Property Type: Self Storage
  • Transaction Amount: $2,000,000
  • Address: 901 Ridgeway Avenue
  • Market: Aurora
  • Square Footage: 23,820
  • Price per Square Foot: $84

RDAA Express Inc. acquired the property from Ridgeway Partners, LLC, in a swiftly closed deal that attracted multiple offers, indicating the robust demand for such facilities in the area. Representing the buyer was Michael Kammes of Re/Max Commercial, while Jeff R. Rowlett of Marcus & Millichap acted as the seller's representative, overseeing the seamless transaction.

Players

Jeff R. Rowlett
10 deals$37.3M volume
BROKER

Michael Kammes
Re/Max
1 deal$2M volume(630) 793-0432
BROKER

Details

SOLD
IMAGE: Michael Kammes & Jeff R. Rowlett DATE: 06/24/2024 ADDRESS: 901 Ridgeway Avenue MARKET: Aurora ASSET TYPE: Self Storage ~ ACRES: 3.18 BUYER: RDAA Express Inc. SELLER: Ridgeway Partners, LLC BUYER'S REP: Michael Kammes - Re/Max Commercial SELLER'S REP: Jeff R. Rowlett - Marcus & Millichap (@MarcusMillichapinc) SALE PRICE: $2,000,000 SF: 23,820 ~ PPSF: $84 NOTE: Marcus & Millichap announced the sale of 901 Ridgeway Avenue, a 23,820-square-foot industrial storage property in Aurora, Illinois, fetching $2,000,000. Jeff Rowlett, senior managing director investments, noted the property's rapid sale with multiple offers, reflecting strong demand for industrial outdoor storage facilities in the region. The property, located on 3.18 acres near Chicago, features four buildings and ample space for outdoor storage and parking, making it a strategic investment in a prime location.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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