Self-Storage
6 Property PortfolioWestern Michigan
Portfolio Snapshot
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Executive Summary
The Opportunity
Matthews™ has been exclusively retained to market for sale a six-property self-storage portfolio totaling ±411,692 net rentable square feet across 2,478 units in Western Michigan. The assets sit within a ±50-mile operating radius and are privately owned and managed by a small in-house staff.
At 66% unit occupancy and 60% economic occupancy, the portfolio offers a professional operator meaningful room to drive lease-up, professionalize marketing, and capture ancillary income — at a basis well below replacement cost.
- Six assets within a ±50-mile operating radius
- Privately owned and managed by a small in-house staff
- 66% unit occupancy and 60% economic occupancy today
- Offered below current replacement cost
- Over $1.6M in capital improvements in the last two years
- Only ±$4,000 per month spent advertising all six facilities
- Ancillary income and expansion upside across the portfolio
Six Assets · One Portfolio
The Portfolio
Six strategically located self-storage facilities across Western Michigan.
Locations
Western Michigan Portfolio
All six assets sit within a ±50-mile operating radius spanning the Grand Rapids and Kalamazoo markets and the Lake Michigan shoreline.
Hover a number to view property details
Why This Portfolio
Investment Highlights
- 01
Operational Upside
The privately owned portfolio is managed by a small in-house staff overseeing more than 400,000 NRSF, creating meaningful opportunity for a professional operator to enhance performance.
- 02
Lease-Up Potential
Portfolio occupancy is currently 66% by units and 60% economically, offering attractive returns at stabilization.
- 03
Below Replacement Cost
The portfolio is offered at a very attractive price per square foot, well below replacement cost today.
- 04
Expansion Opportunity
Additional expansion potential exists at the Holland, Portage, and South Haven locations.
- 05
Limited Marketing Spend
The seller spends only approximately $4,000 per month advertising all six facilities, leaving substantial room for professionalized marketing and lease-up.
- 06
Ancillary Income Upside
Tenant insurance was implemented only one year ago, while admin and late-fee revenue remain minimal.
- 07
Residential Development
More than 120 residential developments are underway within five miles of the portfolio's facilities, representing over $3.7 billion in estimated value.
- 08
Recent Capital Investment
The seller has invested over $1.6 million in capital improvements across the portfolio within the last two years.
Value-Add Thesis
Embedded Expansion Potential
Three of the six properties carry land available for future expansion — at Holland, Portage, and South Haven — allowing a new owner to add rentable square footage on sites already generating income.
Property 01 · Holland, MI
1200 & 1187 Central Ave
±12.74 Acres · ±136,513 NRSF today
Property 04 · Portage, MI
800 Gladys St
±6.04 Acres · ±54,620 NRSF today
Property 05 · South Haven, MI
1505 2nd Ave
±5.86 Acres · ±39,908 NRSF today
Market
Western Michigan
A diversified and growing regional demand base.
Grand Rapids / West Michigan
- Michigan's fastest-growing metropolitan area, with 33,600 residents added since 2020 and no pandemic-era population loss
- Kent County is projected to grow 13% through 2050 while the state overall declines
- Over $3.5 billion in development recently announced or underway
- Corewell Health's $1.3 billion, 780,000 SF Butterworth Hospital expansion
- $795.8 million Fulton & Market riverfront project delivering 670 housing units
- $175 million Amway Stadium delivering in spring 2027
- REIT operators control only ~20% of square footage, leaving limited institutional competition
Kalamazoo / Southwest Michigan
- Pfizer's Portage campus is the company's largest manufacturing facility in the world
- Approximately 3,000 Pfizer employees and an estimated $3 billion in annual local economic impact
- Stryker's global headquarters anchors the regional employment base
- $8.6 billion in regional capital investment, including Ford's BlueOval Battery Park 35 minutes east
- Rent growth of 4.3% to 6.0% annually from a base 33% below the national average
- Zero REIT operators within the five-mile trade area
Demographics
Portfolio Demand Drivers
- 0+
- Residential developments within 5 miles of portfolio facilities
- $0.0B+
- Estimated residential development value
- 0+
- 5-mile population at the Kalamazoo, Portage & Byron Center locations
Trade Area Detail
| City | Avg. Household Income | Avg. Home Price | Homes on Market <$1M |
|---|---|---|---|
| Holland, MI | $104K | $357K | ±140 |
| Byron Center, MI | $125K | $465K | ±170 |
| Portage, MI | $103K | $280K | ±60 |
| South Haven, MI | $95K | $380K | ±150 |
| Kalamazoo, MI | $75K | $203K | ±59 |
Photography
Portfolio Gallery
Drone photography from all six Western Michigan locations. Hover to pause.
Explore the Secure & Go Storage Portfolio
Access the Offering Memorandum, financial information, and additional due diligence materials.
Exclusively Listed By
Listing Team
Austin McLeod
Senior Vice President & Director | Self-Storage
Broker of Record
Matthew Fitzgerald
Broker Lic. No. 6502432668 (MI) · Firm Lic. No. 6505432273 (MI)