24 Hour Storage
Self Storage | 5.24% CAP | 1,334 Units
Marketing description
Superior Capital Advisors is pleased to present an exclusive opportunity to acquire a two-property portfolio of Class A self-storage facilities located in Ocean Springs and Biloxi, Mississippi. This portfolio consists of 1,334 total units across 140,600 net rentable square feet, featuring climate-controlled storage, drive-up storage, contractor units, man caves, RV and boat storage, U-Haul rentals, trailer rentals, and moving supplies.
The Biloxi property features 553 climate-controlled units across 55,450 net rentable square feet and was built in 2023. The Ocean Springs property includes 722 climate-controlled units, 25 large man caves, and an office/warehouse space across 85,150 net rentable square feet, with Phase One completed in 2020 and Phase Two completed in October 2024. Both facilities are engineered to meet 161 MPH wind load requirements and offer strong Gulf Coast locations with convenient access to residential growth corridors.
The portfolio presents a current cap rate of 5.24% with an adjusted NOI of $1,101,155, and a projected Year 3 cap rate of 8.08% with projected NOI of $1,605,473. The Biloxi property offers assumable 3% debt until 2032. With multiple income streams and significant value-add potential through lease-up and operational improvements, this portfolio represents an exceptional investment opportunity in the growing Mississippi Gulf Coast market.
Investment highlights
- Two - Class A Storage Facilities
- Ocean Springs - 722 Climate Controlled Units / 25 Large Man Caves / 1 Office/Warehouse / 16 Open Parking Spaces - 85,150 Net Rentable Square Feet - Engineered to meet 161 MPH wind load
- Biloxi - 553 Climate Controlled Units / 18 Open Parking Spaces - 55,450 Net Rentable Square Feet - Engineered to meet 161 MPH wind load
- Biloxi - 92% Physical Occupancy / 80% Economic Occupancy / Room to Expand / Ability to push Tenant Insurance Penetration / Class A Facility / Large Onsite office / Built in 2023, CO'd in January of 2024
- Ocean Springs - Phase One Co'd in 2020 / Phase Two CO'd in October of 2024 - Phase One consisted of Primarily larger units / Phase two consisted of over 400 self storage units. Large Onsite Office / Break Room / Billiards Room
- Assumable 3% Debt until 2032
- Strong Gulf Coast location provides convenient access to Biloxi, D'Iberville, Ocean Springs, and nearby residential growth corridors.
- Ocean Springs site sits within a vast growing retail corridor with a newly built Chick-fil-A, Chipotle, Starbucks, and other fast food. Biloxi site sits .5 miles from Walmart, .9 miles to Home Depot, 1.2 miles fro Biloxi High School
- Ocean Springs Medical Park borders the eastern side of the facility.
- Climate Storage, Drive Up Storage, Contractor Units, RV storage, Boat storage, U-Haul rentals, Trailer rentals, Moving supplies
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