North Raleigh Personal Storage
Closed5508 Otters Run Ct, Raleigh, Raleigh, NC 27609
Property type
Self Storage
Unit / Space count
183
Building size
20,940 SF
Lot size
2.44 acres
Sold/status
Sold · Date unknown
Property description
• Cash-Flowing Self Storage Facility With Upside Located in the Rapidly Growing City of Raleigh, North Carolina • Facility is Comprised of 183 Units of Non-Climate Storage Totaling 20,940 NRSF, 55 Outdoor Parking Spaces, and One Residential Apartment • Facility Manager Occupies the On-Site Apartment and Handles Day-to-Day Operations in Return for Free Rent, Offering Low-Cost Management Option to Next Owner • Alternatively, the Facility is Equipped with Management Software, a Tenant Insurance Program, and an Automated Gate, Making for an Easy Transition to Remote Management • Opportunity to Increase Revenue Through Lease-Up, Stabilization, and Steadily Raising Rents Up to Market • Elite Demographics Highlighted by an Average Household Income of $102,246 and a Population of 216,303 Residents Within Three Miles of the Site • The Raleigh-Cary MSA is the 2nd Fastest Growing MSA in the Country and is Home to 1,484,338 Residents