City Hall Storage Portfolio
Self Storage | 19,200 NRSF | 155 Units
Marketing description
The City Hall Storage Portfolio comprises two non-climate self-storage facilities at 129 Johnson Road and 124 Spring Street in Maynardville, TN - located less than two miles apart and both within a designated federal Opportunity Zone. Together the sites total 155 units and 19,200 net rentable square feet across six single-story metal buildings, serving the Union County seat roughly 20 miles north of downtown Knoxville within the 968,137-resident Knoxville MSA, the third largest in Tennessee.
The portfolio is positioned to capitalize on a constrained, recreation-driven market. With self-storage saturation of just 4.4 square feet per capita within five miles and 5.7 within three miles, competition is limited, while proximity to Norris Lake and Big Ridge State Park sustains seasonal boat, RV, and household storage demand. A five-mile population of 9,865 growing about 1.56% annually, average household income of $68,565, and 590 projected new housing units within ten miles underpin durable demand. Both sites are remotely managed via Easy Storage Solutions with gated keypad entry and perimeter fencing - an efficient, scalable operating model.
Investment highlights
- Two Self Storage Properties Located Less Than Two Miles Apart and Comprised of 155 Non-Climate Units Totaling 19,200 Net Rentable Square Feet
- Both Locations Benefit From Being Located Within a Designated Opportunity Zone
- Very Limited Competition in the Immediate Trade Area Evidenced by a Market Saturation Rate of 4.4 SF/Capita for Self Storage Within Five Miles of the Property
- Below Market Rents Bode Well for the Implementation of Existing Customer Rent Increases
- Opportunity to Increase Revenue Through Maximizing Fee Income and Tenant Insurance Sales
- Facilities are Excellent Candidates for Remote Management Thanks to Their Close Proximity and Strong Occupancy
- Located Only 20 Miles North of Downtown Knoxville, the Town of Maynardville is Surrounded by State Parks, Lakes, Waterfalls and Other Natural Beauty
- The Rapidly Growing Knoxville MSA is the Third Largest in the State of Tennessee and is Home to 968,137 Residents
Listing Contacts
Valuation Calculator
Valuation Metrics
Map
Broker Selected Comps View More Comps
Property History
Tax History
Similar Properties
Additional Information
Is there information that looks off?
