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901 Ridgeway Avenue

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

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

901 Ridgeway Avenue

$2,000,000

$84/SF

Building Size

23,820 SF

Asset Type

Self Storage

Closing

Jun 24, 2024

AI

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

Marcus & Millichap

Broker

$37.3M

vol

10 deals

Broker

Aurora 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

7.93%

Cash-on-Cash

-2.27%

Monthly Payment

$14,164

Annual Debt Svc

$169,964

Annual Cash Flow

$-11,334

DSCR

0.93