City Hall Storage Portfolio
For sale129 Johnson Road & 124 Spring Street, Maynardville, TN 37807
$1,425,000155 units19,200 SF
Self Storage$9,194/unit$74/SF1995/2007
Property type
Self Storage
Unit / Space count
155
Price
$1,425,000
Rentable area
19,200 SF
Year built
1995
Year renovated
2007
Occupancy
90.24%
Lot size
3.72 Acres
Number of buildings
6
CAP
6.36%
Price per SF
$74.22
Property description
Broker of Record Zachary Moore Tennessee BOR License No. 331635 Firm License No. 265768 813-839-7300 FSIVS@FranklinSt.com Franklin Street Real Estate Services LLC
Property highlights
- Two Self Storage Properties Located Less Than Two Miles Apart and Comprised of 155 Non-Climate Units Totaling 19,200 Net Rentable Square Feet
- Both Locations Benefit From Being Located Within a Designated Opportunity Zone
- Very Limited Competition in the Immediate Trade Area Evidenced by a Market Saturation Rate of 4.4 SF/Capita for Self Storage Within Five Miles of the Property
- Below Market Rents Bode Well for the Implementation of Existing Customer Rent Increases
- Opportunity to Increase Revenue Through Maximizing Fee Income and Tenant Insurance Sales
- Facilities are Excellent Candidates for Remote Management Thanks to Their Close Proximity and Strong Occupancy
- Located Only 20 Miles North of Downtown Knoxville, the Town of Maynardville is Surrounded by State Parks, Lakes, Waterfalls and Other Natural Beauty
- The Rapidly Growing Knoxville MSA is the Third Largest in the State of Tennessee and is Home to 968,137 Residents