$3,630,000 | 30,940 SF | Box Self Storage - Thibodaux, LA

Box Self Storage- Thibodaux CA + Additional Info

Colliers is pleased to present a compelling investment opportunity to acquire a stabilized, institutional quality self storage facility located at 1427 A & B Tiger Drive in Thibodaux, Louisiana. Box Self Storage encompasses 39,040 rentable square feet, including 30,940 square feet of self storage and 8,100 square feet of commercial tenant space. The property features 192 total units, of which 6 are commercial suites, with unit sizes ranging from 5’ x 5’ to 40’ x 40’. The offering includes 6 surface parking spaces and 6 commercial suites, providing diversified income streams and user flexibility.

Strategically positioned just off Highway 3185 (11,152 AADT) and adjacent to both Thibodaux High School and Fletcher Technical Community College, the facility benefits from high visibility and daily commuter traffic. Box Self Storage serves the surrounding communities of Schriever, Acadia, Chackbay, and Labadieville, with the market supported by major area employers including Nicholls State University, Thibodaux Regional Medical Center, Bollinger Shipyards, Danos, and Edison Chouest Offshore. 

The property is comprised of six single story buildings, including three enclosed metal RV buildings, two climate controlled buildings, and one six-unit commercial tenant building, all situated on approximately 2.94 acres. Opportunities exist to further optimize land usage, particularly beneath the marked parking spaces and within the concrete pad area situated between the commercial tenant suites and the climate controlled building.

Operations are run efficiently through a remote management model leveraging online leasing as well as a call center. While one of the commercial spaces could accommodate an onsite management office if desired, current operational performance demonstrates strong results under the existing remote management structure. Facility features include secured access control for both climate controlled buildings, extensive exterior and motion activated lighting, and interior lights within the RV units, ensuring a secure, well maintained, and user friendly environment. 

The property benefits from Thibodaux’s robust demographic profile. Located immediately adjacent to Thibodaux High School, Box Self Storage serves a five mile trade area of 39,644 residents with an average household income of $86,160, supporting premium rental rates and long term tenant demand.

Offered at $3,630,000, the asset is priced at a 10.5% stabilized cap rate and $92.98 per rentable square foot. Conservative underwriting indicates a projected 7 year IRR of approximately 28.1%, providing investors the opportunity to acquire a well located, income producing facility with proven operating performance and attractive upside through continued revenue optimization and potential site expansion.