Fort Mill Storage Opportunity (Storett)
For sale144 B W. Thomas Dr, Fort Mill, SC 29708
$5,150,000251 units32,565 SF
Self Storage$20,518/unit$158/SF1998
Property type
Self Storage
Unit / Space count
251
Price
$5,150,000
Rentable area
32,565 SF
Year built
1998
Occupancy
80.5%
Lot size
291,416.4 SF
Number of buildings
6
Total Parking Spaces
231
Price per SF
$158.15
Property description
Broker of Record Darron Kattan South Carolina BOR License No. 855575 Firm License No. 19725 813-839-7300 [email protected] Franklin Street Real Estate Services LLC
Property highlights
- Value-Add Self Storage Facility Comprised of 54 Climate-Control Units Totaling 3,750 NRSF, 197 Non-Climate Units Totaling 28,815 NRSF, and 231 Outdoor Parking Rentals.
- Strong Physical Occupancy and Low Economic Occupancy Bodes Well for the Immediate Implementation of Existing Customer Rent Increases.
- Limited Competition in the Immediate Trade Area Evidenced by a Market Saturation Rate of 6.9 SF/Capita Within Five Miles of the Property.
- Significant Upside Available Thanks to Below-Market Rents and the Opportunity to Construct Additional Storage Buildings in Place of Existing Outdoor Parking.
- Opportunity to Increase Revenue Through Maximizing Fee Income and the Implementation of Tenant Insurance Sales.
- Facility is an Excellent Candidate for Remote or Semi-Remote Management With Automatic Gate, Keypad Entry, and Management Software Already in Place.
- Elite Demographics Highlighted by a Growing Population of 124,092 Residents and an Average Household Income of $137,487 Within Five Miles of the Property.
- Located Just 15 Miles South of Charlotte, NC, Fort Mill Runs Adjacent to the Highly-Trafficked Lake Wylie, Providing a Continuous Need for Boat Storage.
- The Charlotte-Concord-Gastonia MSA is the Largest in the Carolinas and is Home to a Growing Population of 2,805,115 Residents.