106 S Franklin Street Westfield, IL 62474

Features

• Price/sqft: $50
• Total Units: 40

Facts

• Year Built: 01/01/2023
• Property ID: 955779567
• MLS Number: 12258285
• Property Type: Other
• County: CLARK
• Listing Status: Active

Sale Type

This is an MLS listing, meaning the property is represented by a real estate broker, who has contracted with the home owner to sell the home.

Description

This listing is NOT a foreclosure. This mini-storage complex, newly constructed in 2021, offers an excellent opportunity for investors seeking a turnkey property with significant value-add potential. Located on a highly visible 1.61-acre parcel, the property combines modern construction with room for future expansion to maximize returns. *Modern Construction: Built in 2021, the facility features 40 drive-up units, each measuring 10 x 15, with durable Trac Rite roll-up doors. *Prime Location: Positioned on the busiest street in town, the property boasts frontage on all four sides of the parcel, providing unmatched visibility and accessibility. *Room for Expansion: With 1.61 acres, the site offers ample space to add more units or introduce boat and RV parking to capitalize on unmet demand in the area. *Utilities and Features: Utilities are adjacent to the site, allowing for easy upgrades or future development. The current configuration is non-climate controlled with no docks, ensuring low operating costs. *Marketing Upside: Despite being a newly constructed facility, the property has not been aggressively marketed since the current owner acquired it from a family member. A targeted marketing strategy could significantly boost occupancy and revenue. *Operational Improvements: There are no security cameras, fencing, or operating software in place, providing an opportunity to enhance the tenant experience and security while commanding higher rental rates. *Expansion Options: The large parcel size accommodates the addition of more units or premium offerings such as boat and RV parking, which would diversify income streams. With its strategic location on the town's busiest street and strong curb appeal, this property is well-positioned to attract residential and commercial storage tenants. The lack of direct competition in the immediate area further underscores the property's potential for sustained growth.