8870 Blaine Rd - Self-Storage Facilities FOR SALE


Blaine, WA 98230
$2,200,000 USD
503-279-1743
8870 Blaine Rd, Blaine, WA for Sale
$2,200,000 USD
Self-Storage Facilities - FOR SALE
1/14
null | 6.91% Cap Rate

8870 Blaine Rd
Blaine, WA 98230


HIGHLIGHTS

  • Value-Add Opportunity – Lease up of vacant units and rent increases
  • Below-Market Rents – ~$0.93 PSF in-place vs. ~$1.31 PSF market
  • Efficient Asset Design – Drive-up, non-climate units with potential for expansion
  • Blaine, WA Location – Rapid growth demographics within Whatcom County
  • Geographic Arbitrage – Benefiting from regional migration due to lower cost of living
  • Seller Financing Available

OVERVIEW

Drayton Harbor Mini Storage is a self-storage facility constructed in 2001 consisting of 117 drive-up, storage units totaling approximately 18,103 net rentable square feet plus 16 surface parking spaces (133 total). The property also includes a 2,000 SF mobile home rented to a third party. The storage units are currently ~74% physically occupied, presenting a value-add opportunity through lease-up of vacant units. In-place rents average approximately $0.93 per square foot, representing a significant discount to the estimated weighted average market rent of approximately $1.31 per square foot. The Property offers a clear path to NOI growth through lease-up and mark-to-market rent increases. The asset features an efficient drive-up unit mix and a straightforward operating profile, supporting low operating expenses and ease of management. Drayton Harbor Mini Storage is located in Blaine, Washington, near the U.S.–Canada border with access to regional transportation corridors serving Whatcom County. The Blaine submarket benefits from limited competing supply, favorable self-storage demand fundamentals and its proximity to the rapid growth of both the Semiahmoo and Birch Bay communities.

FOR SALE DETAILS

PRICE

$2,200,000 USD

PRICE/SF

$122 USD /SF

CAP RATE

6.91%

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Drayton Harbor Mini Storage

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

B

YEAR BUILT

2000

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

7.3 AC

LAND SF

317,988 SF

ZONING

RU 4

APN/PARCEL ID

400118-524534-0000

ASK ABOUT THIS PROPERTY

Jim LewisCushman & Wakefield of Oregon, Inc.More Info
503-279-1743

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

Jim LewisCushman & Wakefield of Oregon, Inc.More Info
503-279-1743

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