33 Storage Solutions
Self Storage Opportunity | Mooresville, NC
Marketing description
Grandstone Investment Sales is pleased to exclusively present 33 Storage Solutions, a self-storage renovation opportunity located at 2059 Charlotte Highway, Mooresville, NC. This property comprises 318 units across 39,605 NRSF and sits on a 2.83-acre lot. Currently, the facility presents a significant value-add opportunity, operating with below-market rents, which presents a clear path to implement aggressive rental rate increases and align with market comparables. The property is currently 87.88% physically occupied, and with its high-quality 2021 construction featuring 100% climate-controlled units, there is a clear path to improving revenue through optimized pricing and capturing affluent tenant demand. Projected NOI growth from $304,704 currently to $459,708 in Year 1 highlights the upside potential for this asset.
The local market serves a rapidly growing and highly affluent population within a 3-mile radius of the Mooresville and Lake Norman submarket. This offering presents a unique opportunity to capitalize on the below-market rents of the current operation and realize strong returns through strategic rate adjustments and sustained local demand.
Investment highlights
- AFFLUENT DEMOGRAPHICS - The local population within a 3-mile radius stands at 28,227 residents and has expanded by 10.7% since 2020. This growing consumer base features a median household income of $76,849 and average household income of $96,288, supporting strong demand for premium storage solutions.
- NEWEST IN COMP SET - Delivered in 2021, this Class B+ facility features 318 units across 39,605 NRSF. It holds a distinct physical advantage as the newest construction among its immediate competitive set.
- VALUE-ADD VIA RENT GROWTH - The asset offers a clear value-add strategy through aggressive rental rate increases, projected to boost Year 1 NOI to $459,708.
- 100% CLIMATE-CONTROLLED - Operating at an 87.88% physical occupancy, the property boasts a 100% climate-controlled unit mix with a large average unit size of 125 SF.
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