Cap Rate
6.70%
Units
308
Gross SQFT
59,900
Occupancy
90%
NOI
$395,277
Property Type
Self Storage
- Clean facility built in 2016 that features ±59,900 NRSF
- Fully stabilized facility with strong historical performance and positive occupancy growth in 2024
- Very attractive day-1 cap rate on a facility of this size, at 6.70% based on T-12 NOI with adjusted market expenses
- Limited climate controlled competition, as this is one of only four facilities offering climate controlled in a 5-mile radius
- Excellent visibilty, frontage, and access from US Highway 190 which sees over 10,000+ vehicles per day
- Additional income streams producing solid ancillary income – including two warehouses, an office, and a rental home
- Strong population growth since 2020 of 7.10% annually in a 3-mile radius
- 2 acres of expansion land available for purchase separately
Broker of Record
- Patrick Graham
- License No. 9005919 (TX)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203