Russellville Road Self Storage
For saleUnder contract5521 Russellville Road, Bowling Green, KY 42101
$7,800,000677 units94,300 SF
Self Storage1973
Property type
Self Storage
Unit / Space count
677
Price
$7,800,000
Year built
1973
Occupancy
92.15%
Stories
1
Lot size
8.99 acres
Number of buildings
25
Property highlights
- Seller Financing Offers Will Be Strongly Considered, Inquire With Broker for Details
- Highly Occupied Self Storage Facility With Tremendous Upside Offered at an Attractive Basis.
- Sprawling Facility Featuring 85 Climate-Control Units Totaling 10,460 NRSF, 592 Non-Climate Units Totaling 81,420 NRSF, 2 Warehouse Spaces Totaling 2,420 NRSF, and 11 Outdoor Parking Rentals.
- Physical Occupancy Above 90% and Economic Occupancy Below 70% Provides a Clear Path to Upside Through the Implementation of Existing Customer Rent Increases.
- Facility Sits on an 8.99-Acre Parcel That Includes Additional Room for Future Expansion.
- Opportunity to Increase Revenue Through Maximizing Fee Income and the Implementation of Tenant Insurance Sales.
- Warehouse Space Can Be Properly Leased Out or Converted into Additional Climate-Control Units.
- Strong Demographics Within Five Miles of the Property Featuring an Average Household Income of $78,429 and a Population of 66,737 Residents Growing at 2% Annually.
- Bowling Green is Ensconced Among the Rolling Bluegrass Hills of Southern Kentucky, Approximately 60 Miles Northeast of Nashville, Tennessee.
- The Bowling Green MSA is the Third Largest in the State of Kentucky and is Home to 197,180 Residents.
Broker Of Record Darron Kattan Kentucky BOR License No. 285311 Firm License No. 281966 813-839-7300 FSIVS@FranklinSt.com Franklin Street Real Estate Services LLC