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
Aurora Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
Loading comparables…
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