Piney Mini Storage
Value Add | Seller Financing Available | East Tennessee
Marketing description
This is not a “buy it for today’s yield” deal - it’s a "tighten operations and unlock the value" opportunity.
EquiCap Commercial is pleased to offer for sale Piney Mini Storage, located at 160 Emily Blvd in Piney Flats (Johnson City MSA), Tennessee. The facility consists of 225 climate and non-climate unit, 5 open parking spaces and 3 large flex spaces totaling 233 units across 39,535 rentable square feet.
Piney Mini Storage is owner-operated and well maintained. The operations will definitely benefit from a more professional management platform. The value-add opportunity can not be fully appreciated by just looking at the numbers. The property is 83% occupied by square foot (71% by unit) but only 69% economically occupied and it has operated that way for years. However, over the past few months, as the owner has started paying attention to the operations – adding a website, executing a marketing campaign to gain new customers and implementing the first customer rate increase in over 3 years – Q1 2026 revenue was up approximately $17,000, 35%, versus Q1 2025. That is a small example of how much value-add can be added to this opportunity. Other opportunities that exist are:
- By decreasing physical vacancy from 16% to 10%, you can increase the monthly income by approximately $1,500;
- Despite the owner initiating some existing customer rate increases in the past couple of months, there is still an opportunity to grow the economic income. Another small rate increase can easily add $500+ a month;
- The current tenant insurance penetration is only 6%. Improving tenant insurance penetration from 6% to a modest 55%, gross income can be improved by $1,300 a month.
- Seller financing terms are available
Investment highlights
- SELLER FINANCING // Seller Financing allows an investor to acquire the property with positive day-1 cash flow that leads to 10% cash-on-cash within 2 years and 28% IRR return over a 5-year hold period
- DESIRABLE MARKET // Located in the highly sought after Tri-Cities area of east Tennessee just off of Highway 19W that offers strong traffic counts of 26,713
- VALUE-ADD OPPORTUNITY // Physical Occupancy of 83%; Unit Occupancy of 71% and Economic Occupancy of 69% offers multiple avenues to drive revenue and position the investment for strong long term yield growth
- FAVORABLE SUPPLY INDEX // The 5-mile supply index is 6.31 sq feet per capita with no new construction noted (Source: TractIQ)
- DIVERSE UNIT MIX // The facility spans 39,535 NRSF, featuring 212 non-climate units, 13 climate-controlled units, 3 flex warehouse units and 5 outdoor parking spaces catering to a wide range of storage needs
- For more information, including financials, go to www.equicapcommercial.com
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