Listed by Franklin Street Tampa
$8,445,000
WoodRidge Mini Storage
Details
Property Type Self Storage
Sub Type 1
Net Rentable (SqFt) 75,574
Units 525
Price per SqFt $112
Buildings 18
Acreage 20.570
Self Storage | Expansion Room | 57,754 NRSF
Investment highlights
- Cash-Flowing Self Storage Facility Comprised of 127 Climate-Control Units Totaling 14,700 NRSF, 398 Non-Climate Units Totaling 59,582 NRSF, 2 Commercial Spaces Totaling 1,292 NRSF and 26 Outdoor Parking Rentals.
- Existing 10-Year Interest-Only Loan of $5,350,000 at a 6.48% Fixed Rate Must Be Assumed From Seller. Projected Annual Payment of ~$346,700 Through September of 2035. Full Loan Documents Available in Deal Room.
- Facility Sits on a Massive 20.57-Acre Parcel With Ample Room for Future Expansion and/or Additional Outdoor Parking Rentals.
- Strong Occupancy Allows for the Opportunity to Increase Revenue Through the Implementation of Existing Customer Rent Increases.
- Facility is Currently Operated by an On-Site Manager Living in an Apartment Adjacent to the Leasing Office.
- Strong Demographics Featuring a Population of 90,129 Residents and an Average Household Income of $80,192 Within Five Miles of the Property.
- Healthy Population Growth Evidenced by 1.4% Annual Growth and 4,388 Projected New Housing Units in Development Within Five Miles of the Property.
- Greenville is Located in Eastern North Carolina, Approximately 70 Miles East of Raleigh and is Home to East Carolina University Which Boasts an Enrollment of 27,153 Students.
- The Greenville MSA is the 12th Largest in the State of North Carolina and is Home to 175,119 Residents.
Listing Contacts
Listed by Franklin Street Tampa
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