Roll Up Self Storage Portfolio
Closed15 Fallen Spruce Dr, Asheville, NC 28806
Property type
Self Storage
Unit / Space count
307
Price
$6,300,000
Building size
38,865 sf
Rentable area
38,865 SF
Year built
Year renovated
Occupancy
Zoning code
Sold/status
Sold · Date unknown
Sale price
$6300000
Property description
• Stabilized and Cash Flowing Self Storage Portfolio Totaling 38,865 Net Rentable Square Feet Located in the Asheville MSA • Opportunity to Increase Revenue Through the Construction of a Bi-Level Climate-Control Expansion Building at the Weaverville Location • Both Facilities Benefit From Very Strong In-Place Rents That Are Found Throughout the Asheville Market • Low Saturation Rates Within Five Miles of Both Locations With a 6.7 SF/Capita at Weaverville and an 8.7 SF/Capita at Asheville • Both Facilities Have Maintained Exceptionally Strong Occupancy With Historical Averages North of 90% • Both Facilities Were Fortunate to Avoid Damage From Hurricane Helene and Actually Experienced Occupancy Growth as a Result • The Mountainous Terrain and Topography of the Region Provides a Natural Barrier to Entry for Future Storage Development • Very Strong Demographics at Both Locations Highlighted by an Average Household Income of Over $85,000 Within Five Miles of Each Facility • The Growing Asheville MSA is the 7th Largest in the State of North Carolina and is Home to 417,202 Residents