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Marcus & Millichap Sells Old South Storage Self Storage Facility In Nantucket For $5.6M
SOLD
$5,600,000
+ 1
Massachusetts
See Similar DealsSelf Storage
Sold 12/16/2024
SOLD
Marcus & Millichap Sells Old South Storage Self Storage Facility In Nantucket For $5.6M
54 Old South Road
See Similar DealsSelf Storage
Sold 12/16/2024
+ 1
Summary
MASSACHUSETTS
Asset Type:Self Storage
Transaction Type:Sale
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.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$298,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$19,895.61
Cash-on-Cash Return-1.27%
Monthly Debt Service$26,546.86
Annual Debt Service$318,562.28
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