Recent Conversion and Expansion Potential

Thumb Storage and Business Suites

Bad Axe, MI

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Executive Summary

Summary

  • Property Address 977 N Van Dyke Rd, Bad Axe, MI 48413
  • Price $1,250,000
  • Price Per Sq. Ft. $36.45
  • Acreage 4.14
  • Enclosed Sq. Ft. 34,289
  • Unenclosed Sq. Ft. 30,500
  • Number of Units 231
  • Year Built 1980 (2019 Conversion)
  • Occupancy 28%
  • Cap Rate 0.63%

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.

Investment Highlights

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

Location Map

Team

Milburn Stevens

Milburn Stevens

Investment Advisor
Calvary Realty
CA License #01265031
(760) 641-0511
Denise Theus

Denise Theus

Investment Advisor
Calvary Realty
CA# 00902242
(818) 860-1319

Eric Israel

President
The Virtual Realty Group
(888) 407-2410
MI License #6504431408