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12149 State Highway 99W - South Main Mini Storage 47,260 SF Specialty Building Offered at $4,117,964 CAD in Red Bluff, CA 96080
INVESTMENT HIGHLIGHTS
- High Occupancy on Rentable Units (±94% Occ. on Rentable Units)
- Below Replacement Cost ($62 Per Rentable Square Foot)
- Positive Rent Growth (±16% T-12 Rent Growth in Red Bluff (Per StorTrack)
- Significant Upside (In-Place Rents are 36% Below Market)
- Well-Positioned Site (Visible from I-5 and Located on Highway 99W)
- Call listing brokers for more information
EXECUTIVE SUMMARY
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
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
PROPERTY FACTS
| Price | $4,117,964 CAD | Building Class | B |
| Price Per SF | $87.13 CAD | Lot Size | 6.82 AC |
| Sale Type | Investment | Building Size | 47,260 SF |
| Property Type | Specialty | No. Stories | 1 |
| Property Subtype | Self-Storage | Year Built | 1990 |
| Zoning | Mini Warehouse - Commercial mixed use | ||
| Price | $4,117,964 CAD |
| Price Per SF | $87.13 CAD |
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 6.82 AC |
| Building Size | 47,260 SF |
| No. Stories | 1 |
| Year Built | 1990 |
| Zoning | Mini Warehouse - Commercial mixed use |
AMENITIES
- On-Site Security Staff
1 1
PROPERTY TAXES
| Parcel Number | 035-070-082-000 | Improvements Assessment | $3,982,540 CAD |
| Land Assessment | $821,608 CAD | Total Assessment | $4,804,147 CAD |
PROPERTY TAXES
Parcel Number
035-070-082-000
Land Assessment
$821,608 CAD
Improvements Assessment
$3,982,540 CAD
Total Assessment
$4,804,147 CAD
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12149 State Highway 99W - South Main Mini Storage
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