2995 Highway 66 - Corner Storage

Merit Commercial Real Estate is pleased to exclusively present 2995 Hwy 66 or "The Corner Storage", located in beautiful Ashland, Oregon.
The Corner Storage is one of only a handful of established existing self-storage facilities in Southern Oregon, and currently the only publicly available facility in the region.
The property is a local icon, sited on the prominent corner of Hwy 66 and Dead Indian Memorial Road. The exceptional location enjoys strong traffic counts, great signage, and easy left/right access.
The unit mix is diverse and appealing. The 129 storage units range from 5x6 units to the largest 26x15 unit. Storage units are about an even split of interior-loaded hallway-accessed non-climate units, and steel-frame modular units (also non-climate). Tenant demand has been consistent, with average historical occupancy at 98%+.
There are 9 office suites, ranging from 24x10 to 52x35. While an atypical addition, the office suites have consistently leased and provides a welcome diversity to the revenue base. Additionally, there are 7 workshop spaces ranging from 24x10 - 30x19 - a high-demand product in Ashland. Lastly, there are 37 "rentable" parking spaces, ranging from 16x9 vehicle spots to 40x20 RV spaces.
There is excess land that could be developed at a higher-density or with mixed-use buildings in the NE corner of the property. The rent roll shows significant rent upside of over $5,000/month, accounting for only turning existing units to market (not factoring rent growth or excess land)
The property has had significant recent improvements: new metal siding in 2021-22, full site pavement in 2017, new roofs on all structures in 2008, connection to city sewer, solar panels, fencing, landscaping, exterior paint, new well pump, and much more. The manager's quarters have been remodeled into a modern masterpiece in the recent years and is a strong highlight of the property.
The opportunity is clear at The Corner Storage to step into an established mixed-use storage facility with significant upside - all located in a beautiful town!
Contact the listing brokers today for additional information! Buyer is responsible for any and all due diligence, including environmental, licensing, use, legality, and all other items.