Snapbox Self Storage

Property Title

2211 112th Street South
Tacoma, WA 98444

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investment highlights

  • Upside in Management Efficiencies – Currently a Single Store Operated from the East Coast
  • Rare Opportunity to Acquire an Infill Seattle MSA Facility with Significant Room for Expansion
  • High Occupancy Trade Area – Mid 90’s Occupancy
  • Located in a Heavily Traveled Corridor-32K Cars Per Day
  • Dense Infill Residential Area – 94K People Within Three Miles
  • Seasoned Operation with Historically Strong Revenue Growth

property summary

Snapbox Self Storage is a 50,870 net rentable square foot facility located in Tacoma, Washington. There is a total of 500 storage units including both climate-controlled and non-climate controlled drive-up units with 55 rentable outdoor RV and boat parking spaces. The facility is fully fenced and gated with digital keypad access and features 24-hour video security surveillance throughout.

The facility is located in Parkland, an unincorporated suburb eight miles south of Tacoma and home to Pacific Lutheran University. The property is situated on 2.56 acres on 112th street, and accessible just south of Washington State Highway 512 via the Steele Street South exit and less than one mile southeast of Interstate 5. This heavily traveled corridor sees up to 32,000 cars per day. There are approximately 94,085 people and 35,805 households within a three-mile radius with an average household income of $56,153.

To the south across from 112th Street is the Joint Base Lewis-McChord US military installation for the Army and Air Force which geographic location provides rapid access to deep water ports of Tacoma, Olympia and Seattle for deploying equipment. The base has nearly 210,000 inhabitants, making i t the fourth largest military installment worldwide by population. Snapbox Self Storage is currently a single store operated from the east coast with a historically strong revenue growth. This property offers a rare opportunity to acquire an infill Seattle MSA facility with significant room for expansion.

There is an existing loan that must be assumed that has a current loan balance of $6,670,000 at 5.16 percent interest and approximately 3 years of an interest only period remaining. The note matures in September of 2028.

Broker Information

Adam Schlosser

Senior Vice President

Phone: 303.328.2044
Email: aschlosser@marcusmillichap.com
License: CO FA100050407

Charles "Chico" LeClaire

Executive Managing Director

Phone: 303.328.2025
Email: cleclaire@marcusmillichap.com
License: CO EA00147681

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