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29333208
29333209

482 State Farm Rd, Boone, NC 28607

NW
CA 01827268
CBRE - Downtown Los Angeles
CBRE - Atlanta
Listed by CBRE - Downtown Los Angeles, CBRE - Atlanta
$11,000,000
135 days on market
Updated 30 days ago
Opportunity zone

Blue Skies Storage

Details
Property Type Self Storage
Sub Type self-storage
Square Footage 74,501
Net Rentable (SqFt) 74,501
Units 660
Occupancy 89.3%
Price per SqFt $148
Acreage 6.900
Investment Type Stabilized
Occupancy Date 01/05/2026

Self Storage | 660 Units | $16,667/unit

Marketing description

MORE INFO / OFFERING MEMORANDUM: https://selfstorageadvisory.com/properties/blue-skies-storage-2/

CBRE Self Storage Advisory Group is retained as the exclusive listing advisor for Blue Skies Storage, which consists of 660 total units distributed across 66,401 net rentable square feet of ground level climate controlled storage space and 8,100 net rentable square feet of office space, along with 15,600 net rentable square feet of parking space. The facility offers valuable amenities including dollies and handcarts for moving heavy items, security camera, a ramp and online bill pay.

Boone, North Carolina, nestled in the scenic Blue Ridge Mountains, presents a compelling investment opportunity driven by its vibrant economy and unique blend of natural beauty and academic influence. As the largest community in the High Country region, Boone’s economic backbone is fueled by Appalachian State University, a major institution with over 20,000 students, which not only drives demand for housing, retail, and services but also fosters a steady flow of educated talent into the local workforce. The region’s appeal as a four-season destination attracts visitors year-round. Recent developments, such as expanding student housing and commercial projects, are poised to add hundreds of new jobs and inject millions of dollars into the local economy, capitalizing on commercial inventory and a thriving student population, making Boone an attractive spot for investors seeking stability and growth in a college-town setting.

Investment highlights

  • Huge Management Upside on Raising Street Rents to Market Rates: Subject Property Street Rate on a 10X10 CC 1st Floor is $120 Versus Local Market AVG of $170.50

  • Prime Location: Situated on State Farm Road in Boone, NC, just 1 Mile from Appalachian State University, Boone Mall, and Walmart Supercenter - Ideal for Student and Local Demand

  • Strong Traffic Visibility: Great Exposure with 12,000 Vehicles Per Day on State Farm Road

  • Proximity to Growth Drivers: Boone is a Thriving College Town with a Growing Population and Limited Competing Climate-Controlled Facilities, Creating a Durable Competitive Advantage

Listing Contacts

NW
CA 01827268
CBRE - Downtown Los Angeles
CBRE - Atlanta
Listed by CBRE - Downtown Los Angeles, CBRE - Atlanta

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