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Thumb Storage and Business Suites

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Address: 977 N Van Dyke Rd, Bad Axe, MI 48413, USA

Chicago & Midwest + Apartment Buildings

Created date: September 19, 2024

Date last updated: March 26, 2025

Priced Below Replacement Cost
Low Price Per Square Foot
Signalized Intersection
Good Traffic Count
Fencing, Lighting, & Security Cameras
ESS Management Software
Unused Enclosed Square Footage
Occupancy Upside
Recent Conversion
Electronic Entrance Gate
Expansion Potential
Recent Capital Improvements

Property Description

John 14:6 - Jesus said unto him "I am the way, the truth, and the life. No one comes to the Father except through Me."Calvary Realty is pleased to present Thumb Storage & Business Suites, a prime storage investment located at 977 N Van Dyke Rd in Bad Axe, Michigan. This facility sits on 4.14 acres in Huron County, with a population of 30,927. The property features a total of 64,789 rentable square feet, with 34,289 square feet of enclosed space and 30,500 square feet of unenclosed storage. Converted in 2019, the facility consists of 231 units and offers a strong opportunity for occupancy growth, with the current physical occupancy at 28%.Thumb Storage is equipped with modern amenities, including ESS management software for seamless operations, electronic entrance gates, and security cameras. The facility has undergone recent capital improvements, ensuring its readiness for future tenants. Positioned at a signalized intersection with a traffic count of 5,770 vehicles per day, the property benefits from good visibility and accessibility. The fenced and lit premises further enhance security, making it an attractive option for both renters and investors.With a low price per square foot and a pro forma cap rate of 14.21%, this property presents substantial upside potential for expansion and increased occupancy. Investors will appreciate the growth opportunities offered by the underutilized enclosed square footage and the potential for further development. Thumb Storage & Business Suites stands as a solid investment with long-term potential in a growing market.

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Key Property Information

Listing Status:	Available
Listing Type:	Call for offers
Property Types:	Apartment Buildings
Price:	$1,250,000
No. of Units:	231
Average Occupancy:	0.63
Lot Size:	180,338.00 Sq ft
Opportunity Zone:	No
Price per unit:	$5,411
Property Website	Click Here