Marcus & Millichap recently finalized the sale and financing of Baumgartner Road Storage, a self-storage property situated on 6.6 acres in St. Louis, Missouri with 287 units.
According to Marla Čolić, first vice president investments at Marcus & Millichap’s St. Louis office, this property is a hidden gem that offers strong current income and potential for added value in an affluent area of St. Louis County. The seller specifically requested an off-market process for the sale and we were able to bring in a well-funded buyer.
Čolić was responsible for securing the out-of-state storage investor as the buyer while Doug Brooks, managing director at MMCC’s Columbus office arranged a 5-year non-recourse loan with full-term interest only.
The facility is located at 4888 New Baumgartner Road and features various types of units including RV parking spaces as well as climate-controlled, non-climate-controlled and commercial units spread across 21,275 rentable square feet. Originally built in 1971 but updated in 2020,the property is conveniently situated just off Interstate-55 within South St.Louis County approximately16 miles south of downtownSt.Louis.
