Self Storage Priced to Sell with Seller Financing

3200 New Columbia Road, Campbellsville, KY 42718

Update: This property Sold

Beau Beach, MBA CCIM presents:

$300,000 price reduction!

First time ever available for purchase!  Unique opportunity for an entrepreneurial self storage investor to finish this development project.  Interest only seller financing with negotiable down payment!  2 acres to add more units!  Priced far below replacement cost at just $48/SF!  Seller is eager to retire.

Huge Price Reduction 

$300,000 price reduction to ensure a timely sale!  Priced at just $48/SF!

Current Rent Roll

The property offers 7 total buildings on 5.6 acres.  6 of the buildings are used for boat storage with 56 total units.

The 7th building is leased to the seller, Performance Marine, a full service boat dealership.  Performance Marine will enter into a one year sale-leaseback and pay $5,000 per month (optional).

# Units Size Annual Unit Rent Total Annual Rent Notes
Main Blg 7,200 SF $60,000 $60,000 Sale-leaseback (optional)
31 12×30 $800 $24,800 Gravel floor
13 15×40 $1,200 $15,600 Gravel floor
2 15×40 $1,800 $3,600 Larger door, gravel floor
10 15×40 $1,600 $16,000 Concrete floor
56 $120,000

Click here for the Financial Snapshot.

Value-Add Opportunity

The likely buyer will be most interested in completing this self storage development.  Approx. 2 acres is ready for construction of traditional storage units or more boat storage.  Exterior RV storage is also possible and in demand.  Demand exceeds supply for storage units in the area.  Little professional self storage competition in the submarket.

The like-new main building is 7,200 SF.  The leaseback gives the buyer one full year of lead time to secure a new tenant for this attractive commercial building with offices and showroom.  Functional warehouse buildings are difficult to find and in high demand.

No known constraints to adding additional storage buildings or exterior storage.

Lucrative Location

Located just outside Campbellsville on the main road (New Columbia Road/Highway 55) that connects Campbellsville to Green River Lake.  Green River Lake pulls visitors from Louisville, Lexington, Bardstown and Elizabethtown.

Seller Financing

For a qualified buyer, seller will finance with negotiable down payment, 5% interest only, term up to 4 years, personal guarantee required.

Built in 1999 and later expanded.  No floodplain.  Located within an Opportunity Zone.

Priced far below replacement cost at just $48/SF to ensure a timely sale!  Don’t miss this opportunity. We’ll prepare all the paperwork.

Want to talk?  Click here to schedule a call.

 

LOCATION DESCRIPTION

Campbellsville

Campbellsville is a city in central Kentucky.  It is known for Campbellsville University, Taylor Regional Hospital health care system, its historic downtown, and the proximity to Green River Lake.  Campbellsville is the county seat of Taylor County.  As of the 2020 census, the population of Taylor County was 26,023.

Green River Lake

Green River Lake is a 8,210-acre reservoir in Adair, Taylor, and Casey counties in Kentucky lying in the section of Kentucky known as the Highland Rim.

The lake was developed by the United States Army Corps of Engineers in 1969 by impounding the Green River. The dam is an 11-mile drive equidistant from the cities of Campbellsville and Columbia. The lake is located 90 miles southeast of Louisville.  The lake has become the major attraction of Green River Lake State Park.

Green River Lake State Park encompasses 1,331 acres.  The park has a marina with 200 slips and boat rentals, a 157-site campground, and 28 miles of trails for hiking, biking, and horseback riding.

  • Price: $1,699,000 
  • Area: 5.6 acres 
  • Phone Number: 615-200-9330 
  • Space (s.f.): 35,235 SF ($48/SF) 
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