Southmont & Denton Storage Portfolio
158 Ave K, Lexington, 27292 & 200 W Salisbury St,
Denton,
NC
27239
$1,050,000
Cap Rate
7.30%
Year Built
1992 & 1993
NOI
$75,970
Property Type
Self Storage
INVESTMENT HIGHLIGHTS
- Land for expansion included at the Southmont location
- Very limited competition with single digit square feet per capita in a 1, 3 & 5-mile radius of both sites
- Well below market rents, with 27%+ room to increase achieved and street rates
- Strong historical occupancy, with both sites currently 100% occupied
- Attractive in-Place cap rate at 7.30%, and Year 4 Cap Rate of 9.07% (before expanding)
Broker of Record
- Kyle Matthews
- License No. C38369 (NC)
- (866) 889-0550
- Matthews Real Estate Investment Services, Inc
- 1600 West End,
Ste. 1500 Nashville, TN 37203