2 Locations For Sale

Equicap Commercial, in partnership with Parasell Inc, is pleased to exclusively present Ideal Self Storage and Rentals, two self-storage facilities in the Chattanooga MSA consisting of 281 units and 33,453 net rentable square feet located at 829 Chickamauga Ave and 933 LaFayette Rd Rossville, GA 30741 in Walker County.

Ideal Self Storage and Rentals is independently owned and operated with significant management upside. The opportunity consists of two separate parcels; the original building is a converted furniture store with two levels at street level in the front and rear of the property while the annex site is located .2 miles to the south and has recently gone through a unit reconfiguration to better suit the growing market.

The main original building is under a single roof but is sectioned off internally with four separate entrances with keypad entry. This facility includes lighting throughout with asphalt drive aisles, three convenient loading docks and an interior staging area to the right of the office adding convenience to any customer needs. Additionally, a large 20x50 unit, previously occupied by the owner, has been cleaned out and is available to rent. As the drive up units were added, this facility boats a diverse unit mix to accommodate a variety of tenant needs. The moving truck is included in the sale, primarily used for signage by the current owners, is not operational. Recent capital improvements within the last two years on the main building include a partially retrofitted roof, new gas heater system, new gutters and downspouts, improved drainage alongside the north of the property and extensive tree trimming.

The annex facility consists of drive-up units and internal non-climate units. This facility amenities includes lighting, secure keypad access, a single loading dock with newly configured units to meet the needs of a growing population. Recent capital improvements include a new roof and gutter system in addition to the new units.

Rossville, GA is a underserved and growing market as part of the Chattanooga MSA. The city has seen a revival in recent years with extensive development under way to the north and south along Chickamauga Ave. Ideal Self Storage & Rentals is strategically positioned on a main thoroughfare into the city while providing easy access for commuters to and from the Chattanooga area. The 3-mile radius is projected to grow 9.78% over the next five years building upon a population of 59,929 with no REIT competition. The trade area has already grown 9.3% since 2010.

The combined opportunity is perfectly suited for the investor who is willing to acquire a cash flowing asset, put in some work to improve operations and aesthetic features and will be rewarded with a 12.6% return.