Ground-Up Self-Storage Investment Opportunity
20130 Badger Road, Bend, OR 97702
NRSF
92,584
GSF
118,800
Unit Count
877
1.87-acre Shovel-ready Development Site Within a Top-performing Self-storage Market
Disclaimer
General Disclaimer:
This document contains privileged and confidential information, and any unauthorized use or distribution of this information is strictly prohibited. If you are not the intended recipient, please notify the sender immediately. This document is provided for informational purposes only and is not intended as a solicitation or offering of securities. The information within this document has been obtained from sources believed to be reliable. However, Signal Ventures LLC makes no representation, either express or implied, regarding the accuracy or completeness of the information presented, and investors are advised to perform their own research.
Investing in syndication deals involves risks, and all potential investors should consult their legal and tax advisors before making any investment decision. Signal Ventures LLC and its affiliates, employees, and contractors do not provide tax, legal, or investment advice. Nothing in this document should be construed as such advice.
Investments described herein are subject to restrictions on transfer and resale. Investors should not assume they can easily liquidate their investments. Forward-looking statements included in this document are based on current information and assumptions and are subject to risks that could cause future outcomes to differ from those expressed or implied. Signal Ventures LLC does not update forward-looking statements based on new information or future developments unless required by law.
This material is for informational purposes only and is not a commitment to any particular deal. It is intended solely for accredited investors. Any security offering is subject to specific eligibility requirements, detailed in the relevant offering documents. The information contained herein is confidential and may not be reproduced or shared without written consent. In the event of any conflict between the terms of the offering memorandum for interests in SV005 SPV, LLC (the “SPV”) and the terms of the SPV’s subscription documents and the LLC agreement, the latter shall control.
Financial Disclaimer
This document may contain future financial projections and forecasts. These are based on various assumptions and hypothetical scenarios, and Signal Ventures LLC makes no guarantee or warranty regarding these projections. Past performance does not guarantee future results, and any performance examples are based on assumptions that could differ from actual results. Potential investors should understand that projections are not indicative of actual outcomes and that no representation is made regarding the likelihood of achieving profits or performance similar to those presented.
Contact Information
Jason Adams
President
541-323-4841
jadams@signalv.com
Murali Pillai
Investor Relations Manager
541-323-4847
murali@signalv.com
Office Location
2538 NE Division St., Bend, OR 97703
Opportunity Overview
SV012 SPV, LLC ("SPV")
The SPV intends to develop a Class-A self-storage facility on a 2.47-acre parcel located at 5105 High Banks Road, Springfield, Oregon. The project will include approximately 54,000 gross square feet and 44,300 rentable square feet across 411 climate-controlled storage units. The site benefits from excellent frontage along High Banks Road and immediate proximity to Highway 126, ensuring high visibility and convenient access. Located in the fast-growing Eugene–Springfield metropolitan area, the property sits near major regional anchors such as PeaceHealth’s RiverBend Medical Center, Gateway Mall, and several large-scale residential developments. Within a 3-mile radius, there are over 65,000 residents with average household incomes exceeding $95,000, underscoring strong demand for modern self-storage.
Deal Background
The SPV is in due diligence and plans to acquire the property in Q3 2025. Construction is expected to begin in September 2025 and complete by June 2026, followed by a lease-up period through early 2028 until the project reaches stabilized occupancy of roughly 90%. The development is fully entitled and has completed key design and pre-construction work, positioning it as a shovel-ready, plug-and-play self-storage opportunity.
Business Plan
Signal Ventures LLC will act as the Managing Member (“GP”), while investors (“LPs”) will participate as Common Members in the LLC. The GP is targeting a $2.91 million equity raise, of which 5–10% will be contributed by the GP. The project will be financed with a construction loan of approximately $7.38 million, bringing the total capitalization to $10.29 million. The GP will manage all aspects of financing, construction oversight, and project execution, engaging a national third-party storage operator to handle day-to-day operations upon completion.
Investment Highlights
$5.9MM
Target Equity Raise
30%
Target IRR
3.7x
Target Equity Multiple
5 Years
Target Holding Period
$20.5MM
Target Total Capitalization
$14.64MM
Target Debt
Badger Rd. - Forecasted Projections
Project Pipeline
Investment Highlights
Shovel-Ready Self Storage Development
The project is a fully-entitled, Class-A self-storage development located within the high-visibility Eugene–Springfield metro area. Permitting, design and engineering work are substantially complete, positioning the asset for immediate ground-breaking upon funding. This minimizes development timing risk and offers investors a clear path to stabilization.
Strategic Location in a Growth Corridor
The site at 5105 High Banks Road benefits from direct proximity to Highway 126 and Interstate 5 — major regional arterials within the Eugene–Springfield market. The location provides excellent access to a diversified employment base and growing regional households, delivering strong drive-by visibility and convenient access.
Solid Demographics and End-User Base
The Eugene–Springfield metro has an estimated population of about 381,000. Census Reporter+2City Population+2 Within sub-areas of the market, median home values and household incomes reflect meaningful buying power — for example, the Zillow Home Value Index for Springfield averaged about $411,340 in recent reporting. Zillow These fundamentals help underpin demand for ancillary real-estate uses such as self-storage.
Underserved Self Storage Supply
While the region is experiencing population and household growth, there is a limited pipeline of institutional-quality self-storage development in the market. This dynamic provides an opportunity for a modern climate-controlled facility to capture market share in a constraint-driven environment.
Resilient Market Fundamentals
The Eugene–Springfield market is anchored by higher-education, healthcare and manufacturing employment sectors, and benefits from regional accessibility, institutional presence and local population growth. These features support long-term occupancy and rental stability across real-estate asset classes.
Asset Class Strength
Self-storage has historically demonstrated strong performance through market cycles, with resilient occupancy and rent growth. Given the region’s demographic tailwinds and limited supply of premium product, the investment presents a compelling combination of cash-flow potential and value-growth upside.
Residential Market Snapshot
Home-values in the Eugene–Springfield metro have seen meaningful appreciation. For example, the All-Transactions House Price Index for the region indicates rising values through 2025. FRED+1 In Eugene, the median sale price recently was about $485,000. Redfin Meanwhile, Springfield’s broader home-value tracking shows averages around $411,340. Zillow
These data points reflect ongoing household demand and relatively constrained supply — both positive indicators for investment in storage assets that serve this increasing residential base.
Sponsorship Team
Signal Ventures, headquartered in Bend, Oregon, has been operating since 2001, bringing over two decades of experience in real estate investment and development. Founded and led by Jason Adams, the firm specializes in data-driven strategies across self-storage, industrial, and residential projects.
Their extensive portfolio includes successful ventures like the Tumalo Self Storage project, which achieved gross returns of 72% internal rate of return (IRR) and 10.2x equity multiple over a two-year holding period, and the Bend Flying Frog Car Wash, yielding gross returns of 36% IRR and a 14.7x equity multiple over seven years.
Signal Ventures emphasizes transparency and meticulous attention to detail, ensuring smooth transactions and robust returns for investors. Their seasoned team leverages advanced data analytics to transform underperforming properties into high-performing assets, providing accredited investors with opportunities for passive income through real estate.
Jason Adams
Jason has been a real estate business owner since graduating from college in 2001. He has diverse experience in residential development, self-storage, car wash, construction, and multi-family. His great professional joy is having teams of people working together in coordinated efforts to achieve common goals with easy-to-follow data points and actions.
development team
Leading commercial contractor with extensive
self-storage expertise.
Lender
Live Oak Bank’s experienced SBA lenders offer specialized SBA loan solutions across various industries nationwide.
SBA supports businesses with funding, counseling, certifications, and disaster recovery, connecting them with key partners, lenders, and resources.
Investment Timeline
LOI Signed
PSA Executed
Target: Permits Pulled
Target: Equity Raise Deadline
Target: Deal Close
Target: Breakground on Construction
Target: Open Operations
Market Overview
The Eugene–Springfield metropolitan area is a well-positioned mid-sized market in Oregon with approximately 381,000 residents. Census Reporter+1 Anchored by the University of Oregon, and supported by healthcare and manufacturing employment, the region continues to draw new households and businesses seeking growth opportunities beyond larger coastal metros.
Home-value trends confirm regional strength: in the city of Eugene, the median sale price was about $485,000 in September 2025. Redfin Meanwhile, in the broader Springfield area, the Zillow Home Value Index was approximately $411,340. Zillow These values reflect sustained housing demand, which in turn supports the need for ancillary real-estate services such as self-storage.
With constrained land supply, growing households and infrastructure connectivity to Interstate 5 and Highway 126, the region offers both stability and upside for real-estate investment.
The Eugene–springfield Story
Major Metro with Diverse Economic Base
Rising Demand for Self Storage
The Bend Story
Small Town Feel
Bend has retained its small-town feel as it grows and attracts lifestyle migrants from around the country.
300 Days
Of sunshine and four true seasons.
Demand for Climate-Controlled Storage
With Bend’s expanding affluent population, climate-controlled storage commands a premium, meeting the needs of residents who require high-quality, secure options for their belongings.
Recreation and Great Scenery
Skiing at Mt. Bachelor, river floating, fishing, hiking, mountain biking, breweries, photography, and more.
Great Retirement Area
Bend population growth is boosted as it becomes an increasingly popular retirement destination.
Zoom Town Appeal
Bend, Oregon, has emerged as one of the nation’s premier “zoomtowns,” appealing to remote workers and tech executives seeking a balance of scenic beauty and vibrant community life. Bend’s population has grown by 91% since 2000, and by 10% since 2020, as an influx of professionals and families continue to move to this sunny, picturesque foothill town.
Expanding Residential Market
The Eugene–Springfield housing market has demonstrated sustained strength over the past five years, supported by steady population growth, migration from larger Pacific Northwest metros, and a resilient local economy anchored by healthcare and higher education. According to Redfin and Zillow data, median home prices in Eugene currently average around $485,000, while Springfield’s median is roughly $440,000, reflecting consistent appreciation since 2018 and solid buyer demand across the region. Home values in the metro have risen steadily — even through recent national housing slowdowns — as in-migration, limited new supply, and rising construction costs have kept the market competitive.
Developers have responded with new multifamily and single-family projects concentrated along the I-5 and Highway 126 corridors, serving a growing base of professionals, healthcare employees, and retirees seeking affordability relative to Portland and Seattle. The continued influx of residents, coupled with a diverse employment base and constrained housing inventory, has driven sustained demand for complementary real-estate assets — particularly self-storage, which benefits directly from relocation trends and expanding residential density. The Eugene–Springfield metro remains a stable, growth-oriented housing market, underpinned by long-term economic and demographic fundamentals that support durable investor returns.
Oregon’s Thriving Market
Population Growth
Oregon’s population grew by 10.6% between 2010 and 2020, reflecting steady growth largely driven by migration, especially from states like California. More detailed migration data can be found through the Oregon Office of Economic Analysis (Home | USAFacts) (Oregon Office of Economic Analysis).
Self-Storage Demand and Saturation
According to the Self Storage Almanac and SpareFoot, Oregon has 7.54 square feet of storage per capita. Occupancy rates for storage facilities in the state range between 91-95%, according to Yardi Matrix data (Home | USAFacts).
National Self-Storage Growth
The self-storage industry is projected to grow by 5.2% annually, reaching a market size of $65.3 billion by 2027. This information comes from the Self-Storage Association.
Job Growth and Economic Performance
Oregon has an annual job growth rate of 1.9%, according to data from the Bureau of Labor Statistics. Median household income stands at $76,554 (OregonOffice of Economic Analysis).
Housing Market Data
Median home prices in Bend, Oregon, are around $700,000. Rental rates for a one-bedroom apartment in Bend average approximately $1,800–$2,000 per month.
Competition Map
Area Map
This site boasts 1.87 acres with frontage along U.S. Route 97, the primary north-south corridor through Central Oregon, providing high visibility and accessibility within Bend’s central commercial and residential zones. It has a strong AADT at 24,826.
Comparable Rentals
| Site Name | Address | City | State | Climate Controlled Rental $/NRSF | Rate Type | Time Period | Source |
|---|---|---|---|---|---|---|---|
| Trojan Storage | 2705 NE 4th St. | Bend | OR | $2.02 | In-Store | Last 3 Months | Direct |
| Northwest Self Storage | 62939 N Highway 97 | Bend | OR | $1.94 | In-Store | Last 3 Months | Radius+ |
| Northwest Self Storage | 136 SW Century Dr. | Bend | OR | $5.25 | In-Store | Last 3 Months | Radius+ |
| Northwest Self Storage | 150 SW Industrial Way | Bend | OR | $3.10 | In-Store | Last 3 Months | Radius+ |
Comparable Sales
| Address | City | State | Date Closed | Year Built | Sales Price | NRSF | Sales Price / NRSF |
|---|---|---|---|---|---|---|---|
| 2705 NE 4th St. | Bend | OR | 2022-06-30 | 2017 | $33,020,000 | 80,325 | $411 |
| 9309 Aurora Ave N | Seattle | WA | 2023-08-28 | 2017 | $28,120,000 | 94,946 | $296 |
| 19730 SW Shaw Street | Beaverton | OR | 2023-08-30 | 2019 | $28,120,000 | 98,364 | $286 |
| 9309 Aurora Ave. N | Seattle | WA | 2023-10-31 | 2019 | $30,000,000 | 100,500 | $299 |
| 1007 S Woodlawn Street (1018 S Highland Ave.) | Tacoma | WA | 2024-09-25 | 2021 | $19,000,000 | 69,321 | $274 |
Demographics
| 1-Mile Radius | 3-Mile Radius | 5-Mile Radius |
|
|---|---|---|---|
| POPULATION | |||
| Population 2010 | 8,198 | 44,978 | 80,062 |
| Population 2020 | 11,151 | 55,837 | 101,562 |
| Population 2023 | 11,417 | 59,253 | 108,063 |
| Population 2028 | 11,886 | 63,066 | 115,202 |
| 2000-2010 Annual Rate | 3.12% | 2.19% | 2.41% |
| 2020-2023 Annual Rate | 0.73% | 1.84% | 1.93% |
| 2023-2028 Annual Rate | 0.81% | 1.26% | 1.29% |
| HOUSEHOLDS | |||
| Households 2010 | 3,169 | 18,565 | 33,156 |
| Households 2020 | 4,320 | 22,860 | 41,969 |
| Households 2023 | 4,497 | 24,539 | 45,018 |
| Households 2028 | 4,714 | 26,359 | 48,366 |
| 2000-2010 Annual Rate | 3.15% | 2.10% | 2.39% |
| 2020-2023 Annual Rate | 1.24% | 2.20% | 2.18% |
| 2023-2028 Annual Rate | 0.95% | 1.44% | 1.45% |
| Average Household Size | 2.52 | 2.39 | 2.38 |
| % Owner Occupied Housing 2023 | 68.80% | 66.33% | 64.33% |
| % Renter Occupied Housing 2023 | 31.20% | 33.67% | 35.67% |
| INCOME | |||
| Median Household Income 2023 | $75,357 | $84,979 | $84,172 |
| Median Household Income 2028 | $87,810 | $98,011 | $95,969 |
| 2023-2028 Annual Rate | 3.11% | 2.89% | 2.66% |
| Average Household Income 2023 | $106,312 | $124,103 | $123,925 |
| Average Household Income 2028 | $125,268 | $142,999 | $142,257 |
| 2023-2028 Annual Rate | 3.34% | 2.88% | 2.80% |
| Per Capita Income 2023 | $41,607 | $51,239 | $51,539 |
| Per Capita Income 2028 | $49,359 | $59,582 | $59,619 |
| 2023-2028 Annual Rate | 3.48% | 3.06% | 2.96% |
Deal Structure
