Premier Storage
Self Storage | 7.47% CAP | 288 Units
Marketing description
Premier Storage is a cash-flowing self storage facility located at 3615 Mississippi 15 in Laurel, MS. The property is situated in a dynamic market characterized by a strong economic profile and cultural revitalization. The area boasts a robust demographic base, with the Laurel Metropolitan Statistical Area supporting 82,281 residents. Laurel serves as the principal commercial hub of Jones County, driving consistent demand for self-storage services. The market's global recognition from HGTV's 'Home Town' has catalyzed massive downtown redevelopment, which, combined with an impressive average household income of $75,572 within a three-mile radius, creates a robust renter pool requiring transitional and long-term storage solutions.
The local market is experiencing explosive economic development, highlighted by Howard Industries' recent $230 million expansion project slated to create 450 new full-time jobs. This significant commercial growth provides a built-in customer base for the facility. Additionally, the property capitalizes on immense recurring demand from the upcoming dual-branded Marriott hotel development and the constant influx of staff at the nearby South Central Regional Medical Center. Accessibility is excellent, with Highway 15 handling up to 15,000 vehicles daily and connecting directly to Interstate 59, which is undergoing a $66.8 million resurfacing project. These powerful demand drivers and infrastructure enhancements ensure the property's ongoing business success.
Investment highlights
- Cash-Flowing Self Storage Facility Comprised of 218 Climate-Control Units Totaling 28,800 NRSF and 70 Non-Climate Units Totaling 9,350 NRSF.
- Strong Occupancy Numbers and Below-Market Achieved Rents Should Allow for the Implementation of Existing Customer Rent Increases.
- Billboard on the Property is Currently Leased and Provides Additional Non-Storage Revenue.
- Opportunity to Increase Revenue Through Maximizing Occupancy, Fee Income, and Tenant Insurance Sales.
- Facility is an Excellent Candidate for Remote Management With Automatic Gate, Keypad Entry, and Management Software Already in Place.
- Strong Average Household Income of $75,572 Within Three Miles of the Property.
- Laurel is Located in Southern Mississippi Approximately 90 Miles North of the Gulf Coast and is Home to 17,662 Residents.
- The Laurel MSA is the Seventh Largest in the State of Mississippi and is Home to 82,281 Residents.
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