Monster Self Storage
For sale1758 St Matthews Rd NE, Orangeburg, SC 29118
Unit / Space count
633
Price
$13,889,000
Occupancy
81.99%
Lot size
8.50 acres
Number of buildings
9
Property description
Monster Self Storage is an institutional-size, cash-flowing facility in Orangeburg, South Carolina, offered at $13,889,000. Built in 2019 on 8.5 acres, the property has nine metal buildings with a mix of climate-controlled and non-climate units, and it is positioned as the premier storage option in the Orangeburg market. The modern construction, gated keypad entry, cameras, perimeter fencing, and an on-site leasing office with SiteLink management software give a new owner a turnkey operation with limited near-term capital needs. The upside is in revenue. Achieved rents on many unit types, especially the climate-controlled units, are well above current street rates, which supports continued rollout of existing customer rent increases. There is also room to grow fee income, merchandise sales, and tenant insurance, and occupancy has room to climb. The location adds a demand driver. South Carolina State University and Claflin University are both nearby and create seasonal student rentals, while MUSC Health Orangeburg adds a steady base of healthcare workers. Orangeburg is the county seat and sits on I-26, about 45 miles south of Columbia. It is part of the second-largest metro area in South Carolina, and storage supply in the area is tight relative to the population.
Property highlights
- Highly-Occupied and Cash Flowing Self Storage Facility Operating as the Premier Storage Option in the Orangeburg Market
- Institutional-Size Facility Comprised of 399 Climate-Control Units Totaling 54,625 NRSF and 234 Non-Climate Units Totaling 29,550 NRSF
- Strong Physical Occupancy Should Allow for the Continued Implementation of Existing Customer Rent Increases
- Opportunity to Increase Revenue Through Maximizing Fee Income and Tenant Insurance Sales
- Located Less Than Two Miles From South Carolina State University, Allowing for the Opportunity to Capitalize on Seasonal Student Rentals
- Orangeburg is a 30 Minute Drive Down I-26 From the State Capitol of Columbia and is the County Seat of Orangeburg County, Which is Home to 83,177 Residents
- The Orangeburg MSA is Part of the Larger Columbia-Sumter-Orangeburg Combined Statistical Area Which is the Second Largest in South Carolina and Home to 1,107,723 Residents
Broker of Record Darron Kattan South Carolina BOR License No. 855575 Firm License No. 19725 813-839-7300 FSIVS@FranklinSt.com Franklin Street Real Estate Services LLC