327 S Gannon Street , Lebanon, PA 17042

Property Description

Exceptional investment opportunity positioned for long-term upside. 48 storage units plus 10 parking spaces. All units in good condition. Currently only one vacancy. 38 of the units were built in 2004 (all sized 10x20) and 10 additional units were constructed in 2018 (3 of these are 10x18 and 7 are 10x15). All units currently rent for $100/month and all parking spaces for $25/month, with potential increases to $115 and $35 respectively. Room to add about 2 to 4 additional parking spaces. Please see documents section for Pro Forma, financials, and additional information. Major operational improvements completed within the past year have transformed this property into a streamlined, professionally-managed asset. Recent upgrades include the installation of new heavy-duty metal signage, rollout of a website equipped for online rentals, auto-pay, automated late fees, and tenant insurance purchasing (additional income source for owner), removal of delinquent tenants, rent increases to market value, execution of updated leases with owner-favorable terms, property cleanup and minor repairs, installation of security cameras and motion lighting, and establishment of Google Verification and Search Engine Optimization (SEO). Buyer will receive the website and company name with the purchase, and can also have the LLC if desired. Visit the website at gannonstreetstorage.com to get a feel for how it operates. Self-storage investment opportunities of this caliber are exceedingly rare. Seize your moment!

Property Features

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