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Fresno Self-Storage Facility Trades for $8.2 Mil

5/17/24

An affiliate of Pratt Street Capital LLC purchased a 1,085-unit self-storage facility in Fresno in a recent, $8.2 mil ($7.5k/unit) transaction. The property, Cherry Ave Self-Storage, is located on 5.74 acres at 1844 S Cherry Ave, less than one mile south of downtown Fresno.

Originally built in 1918 and expanded in 2022, Cherry Ave Self Storage consists of a three-story building and 12 one-story buildings. The facility features drive-up units, freight elevators and boat and RV parking. There is also a newly renovated office totaling 262 sf.

The property has excellent visibility from State Route 41 with more than 91,000 vehicles traveling the roadway per day. In addition, the facility is located within an underserved market for self-storage with only three feet of storage space per person within a three-mile radius.

Brian Somoza with JLL Capital Markets represented the public REIT seller and procured the buyer in the deal.





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