306 Allen St - Industrial FOR SALE


Albany, KY 42602
$600,000 USD
217-202-0924
306 Allen St, Albany, KY for Sale
$600,000 USD
Industrial - FOR SALE
1/9
null | 5.63% Cap Rate

306 Allen St
Albany, KY 42602


HIGHLIGHTS

  • 10 units are in storage and ready to be constructed are included.
  • Consistently been over 90% occupied for the past 2.5 years of ownership.
  • Boots on the ground guy does a great job.

OVERVIEW

Albany Storage (Overview) This offering presents an exceptional opportunity to acquire a pair of stabilized self-storage facilities in Albany, Kentucky, located just 0.6 miles apart. Together, these facilities feature 104 drive-up, nonclimate-controlled units plus office space, with a combined 14,560 rentable square feet and a strong occupancy rate of 92.86% as of March 2025. Both properties are operated remotely using ESS management software, providing efficient oversight and lean operations. Units are leased on a month-to-month basis, offering operational flexibility and upside through rental rate adjustments. The facilities are currently operating at a 31% expense ratio, supported by low property taxes of only $2,600 annually (combined). Facility One – 306 Allen Street Located in the heart of Albany, this is the larger of the two facilities, offering 11,140 rentable square feet across 78 units and an on-site office. Built in 1995 and well-maintained, this facility benefits from strong in-town visibility and access. Unit Mix: 11 units – 7’ x 10’ 18 units – 10’ x 10’ 27 units – 10’ x 15’ 16 units – 10’ x 20’ 6 units – 10’ x 22’ Facility Two – 127 US-127 Rd Constructed in 2018, this second facility offers 3,420 rentable square feet and includes 27 existing units. Located on US-127, it benefits from average daily traffic counts of 3,100, offering great visibility and marketing exposure. Importantly, 10 additional units are currently stored on-site and ready for quick and inexpensive assembly, allowing for immediate expansion post-closing. The site also has room for further development. Unit Mix: 14 units – 10’ x 10’ 14 units – 10’ x 15’ Market & Demographics The facilities are located in Albany, KY, serving a rural but stable population base. Within a 7-mile radius, the average household income is approximately $59,000, supporting strong ongoing demand for value-driven self-storage solutions. Key Investment Highlights •Combined 14,560 Rentable SF | 104 Units + Offices •92.86% Occupancy (March 2025) •Drive-Up, Non-Climate-Controlled Units •ESS Management Software & Remote Operation •Low Property Taxes – $2,600 Annually Combined •Month-to-Month Leases Across the Portfolio •31% Expense Ratio – Lean and Scalable Operations •Immediate Expansion Potential at US-127 Site (10 Units On-Site) •Room for Further Build-Out on US-127 Parcel •3,100 AADT on US-127 – High Visibility Corridor •$59K Avg Household Income Within 7-Mile Radius One of the owners of the storage portfolio is a licensed real estate broker in the State of Kentucky.

FOR SALE DETAILS

PRICE

$600,000 USD

PRICE/SF

$41 USD /SF

CAP RATE

5.63%

% LEASED

-

TENANCY

Multiple

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

KY/TN self-storage

PROPERTY TYPE

Industrial

TOTAL BUILDING SIZE

-

STORIES

1

YEAR BUILT

2018

UTILITIES

-

CLEAR CEILING HT

-

DOCKS

-

DRIVE INS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

1.55

LAND SF

67,518

ZONING

n/a

APN/PARCEL ID

103-19-00-011.02

ASK ABOUT THIS PROPERTY

Jon FisherMr. LandmanMore Info
217-202-0924

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Jon FisherMr. LandmanMore Info
217-202-0924

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