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7685 W Houghton Lake Dr, Houghton Lake, MI, 48629

Two Bears Storage
$1,630,000

Key Information

Cap Rate
3.93%
Tot. SF
30,000
Units
209
Year Built
2021/R2023
Type
Self Storage
Occupancy
53%
NOI
$64

Highlights

  • Very attractive yield projections upon stabilization of the second phase.
  • Strategically located adjacent to Michigan’s largest inland lake, benefiting from sustained demand driven by vacationers and second-home owners.
  • Currently operated by “Mom and Pop” ownership with no formal advertising, presenting a clear opportunity for professional management and marketing to enhance revenue.
  • Approximately 5 acres of remaining land with approved plans for an additional ±16,000 net rentable square feet of self-storage or Boat & RV parking, offering future development potential.
  • Ownership recently spent over $20,000 on LED customizable signage at the entrance of the property.

Photos

Location

Agents

Broker of Record

Matthew Fitzgerald

License # 6505432273 (MI)
Matthews Real Estate Investment Services, Inc
1600 West End, Ste. 1500 Nashville, TN 37203