Updated Dec 16, 2024
Marcus & Millichap Sells Old South Storage Self Storage Facility In Nantucket For $5.6M
54 Old South Road
$5,600,000
Units
198
Asset Type
Self Storage
Closing
Dec 16, 2024
About this deal
AI
The property involved in this transaction is a self-storage facility known as Old South Storage, located at 54 Old South Road, Nantucket, MA. The facility comprises 198 units and spans 17,344 square feet. The sale price was $5,600,000, translating to a price per unit of $28,283.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $5,600,000
- Units: 198
- Price Per Unit: $28,283
- Address: 54 Old South Road, Nantucket, MA
The transaction was facilitated by Marcus & Millichap, with brokers Kevin Bledsoe, Matthew Junkin, Michael Palladino, and Thomas Shihadeh representing the undisclosed seller. Thomas Shihadeh acted as the broker of record for the deal.
On the Map
$5,600,000
Self Storage
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Players
Nantucket 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
2.83%
Cash-on-Cash
-0.81%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93