12149 State Highway 99W - Specialty FOR SALE


Red Bluff, CA 96080
$2,950,000 USD
925-817-9611
12149 State Highway 99W, Red Bluff, CA for Sale
$2,950,000 USD
Specialty - FOR SALE
1/10
null | Request Cap Rate

12149 State Highway 99W
Red Bluff, CA 96080


HIGHLIGHTS

  • High Occupancy on Rentable Units (±94% Occ. on Rentable Units)
  • Significant Upside (In-Place Rents are 36% Below Market)
  • Below Replacement Cost ($62 Per Rentable Square Foot)
  • Well-Positioned Site (Visible from I-5 and Located on Highway 99W)
  • Positive Rent Growth (±16% T-12 Rent Growth in Red Bluff (Per StorTrack)

OVERVIEW

Northmarq’s Self Storage Advisory Group is pleased to present the exclusive opportunity to acquire South Main Mini Storage, a value-add self storage facility located in Red Bluff, California, the county seat of Tehama County and a key hub along Interstate 5 in Northern California’s Sacramento Valley. Visible from Interstate 5, the South Main Mini Storage benefits from excellent visibility, seeing nearly 30,000 vehicles per day, allowing the facility to capture demand from both Red Bluff residents and surrounding communities. The facility consists of 294 storage units totaling approximately 47,260 net rentable square feet, across 9 buildings on a large ±6.82-acre parcel. Unit sizes range from 5x8s to 12x40s, providing a diverse mix suitable for household, business, and vehicle storage users. Currently operating at 78% physical occupancy, the property presents a clear opportunity to improve performance through capital improvements and a targeted lease-up. Rent analysis reveals that average in-place rents trail market levels by approximately 36%, with in-place rents averaging $0.70 per square foot versus market rents of $0.96 per square foot. Larger units, in particular, are significantly underpriced, with upside supported by historical leasing data and local competitor surveys. Offered well below replacement cost at $62 per foot, South Main Mini Storage is a compelling investment opportunity for private capital, exchange buyers, and regional operators seeking stabilized yield and value creation in a secondary California market. FOR MORE INFORMATION, PLEASE REACH OUT TO THE BROKER: Marcus de la Pena C 925.817.9611 E mdelapena@northmarq.com CA LIC #02108641 OR LIC #201250055 NV LIC #S.0202104

FOR SALE DETAILS

PRICE

$2,950,000 USD

PRICE/SF

$62 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

South Main Mini Storage

PROPERTY TYPE

Specialty

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

1990

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

6.82 AC

LAND SF

297,079 SF

ZONING

Mini Warehouse

APN/PARCEL ID

035-070-082-000,035-070-083-000

ASK ABOUT THIS PROPERTY

Marcus De La PenaNorthmarqMore Info
925-817-9611

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Marcus De La PenaNorthmarqMore Info
925-817-9611

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.