Duncan Mini Storage, a 14,400-square-foot self-storage facility in Evansville, Ind., recently sold for $530,000. The property at 421 Shamrock Court includes three single-story buildings containing 166 units.
Built in 1994, the property on approximately 1.44 acres of land includes half an acre for possible expansion. Amenities include an automated gate, asphalt drives and a sign with good visibility, according to a press release from Marcus & Millichap Real Estate Investment Services, which brokered the transaction.
Duncan Mini Storage was 99 percent physically occupied and 78 percent economically occupied at the time of the sale, according to the release. The property sold in 30 days at 92 percent of its original list price.
Sean M. Delaney, vice president of investments, and Matthew Duda, investment specialist, from the Marcus & Millichap Chicago/Oak Brook office represented the buyer, a developer, as well as the seller, a private investor. They were assisted by fellow broker Josh Caruana in closing the deal.
Marcus & Millichap has more than 1,300 investment professionals in offices throughout the United States and Canada. The company closed more than 6,600 transactions last year with a value of approximately $24 billion.