Gelt Venture Partners is pleased to announce it has acquired a 678-unit self-storage property located at 1025 Golden Gate Drive in Napa, Calif. The property, formerly known as Southgate Mini Storage, will be rebranded as Public Storage under the new ownership.
The property consists of 653 drive-up, non-climate-controlled units, 23 RV parking spaces, a house, manager’s apartment, and site office. The property was built in 1975 and has a total of 18 single-story buildings consisting of 72,400 square feet (sf) spread across 4.27 acres. Storage unit sizes range from 50 to 360 square feet with an average size of 106 square feet. The well-maintained property is approximately 90% occupied and features security cameras and perimeter fencing. It is situated off Highway 29
The property benefits from a superior mix of all drive-up units which are preferred by customers in the mild California climate for ease of access despite having no climate control. Unit sizes range from 50 to 360 square feet with an average unit size of 106 square feet. Due to minimal building systems with no climate control and no elevators, the building is cost efficient to manage, well maintained, and not vulnerable to obsolescence risk. As of March 2025, the property is 97% occupied. High occupancy is reflective of below market in-place rents at the subject property and strong customer demand in the area.