Listing Portfolios

Nashville MSA Self-Storage Portfolio - UNDER LOI

NRSF - 162,165

The Mele Group of Marcus & Millichap has been selected to exclusively market for sale the Nashville MSA Self-Storage Portfolio. Acquisition of the self-storage portfolio demonstrates an excellent opportunity to acquire two cash-flowing facilities in the Nashville, Tennessee Metropolitan Statistical Area. Each location features strong visibility with several housing developments and national retailers within close proximity. The portfolio boasts strong cash-on-cash returns of 9.0 percent and 12.2 percent in years one and two, in addition to leveraged IRRs of 18.0 percent and 18.1 percent in years five and seven. The portfolio also has a high physical occupancy of 92.7 percent. An investor can capitalize on the portfolio’s planned and completed expansion projects as lease-up activity continues and the region’s population surges. Overall, the portfolio offers two, ideally-situated facilities with professional management and multiple streams of revenue in thriving areas of the Nashville Metro Area.

The portfolio has 1,245 total units among its 162,165 rentable square feet. Combined, the subjects feature 211 climate-controlled units, 826 non-climate-controlled units, 110 portable storage units, 95 boat/RV parking spaces, two office spaces and one billboard. The properties both utilize professional management and are secured with 24-hour computerized video surveillance, gated access and optimal lighting. Furthermore, the facilities offer a wide range of storage options to accommodate all business, residential and recreational needs, and numerous streams of revenue.

The subjects are ideally situated in the Nashville Metropolitan Statistical Area. As the capital of Tennessee and the seat of Davidson County, Nashville is one of the most populated cities in the United States and is nationally-renowned as a major center of music. According to the University of Tennessee, the Nashville Metropolitan Area had a population of 1.9 million in 2017; approximately a 1.8 percent increase from the 2016 population. Nashville is a thriving residential destination that boasts a low poverty rate and a high quality of life; Forbes ranked Nashville as one of the top three best big cities for jobs in the country. The city sustains a booming economy with desirable amenities and one of the most unique atmospheres in the nation.

 

Investment Highlights:
- Rare Opportunity to Acquire Two Facilities with Fantastic Forward-Looking Financials Within the Rapidly-Growing Nashville, Tennessee Metro Area
- Portfolio Cash-on-Cash Returns of 9.0 Percent and 12.2 Percent in Years One and Two
- Portfolio Demonstrates a High Physical Occupancy of 92.7 Percent
- The Clarksville Facility to Expand at the End of Summer by 1,800 Square Feet, Yielding 52 Portable Units to Meet the Local Storage Demands
- The Antioch Facility Recently Added 1,600 Square Feet of Portable Units and Will Expand by an Additional 58 Units in September of 2018, Totaling 2,700 Square Feet of Expansion 
- Portfolio-Wide Average Annual Projected Population Growth Rate of 1.43 Percent, Surpassing the National Average Population Growth

  • Antioch Facility Antioch Facility
    3541 Murfreesboro Pike
    Antioch, TN
  • Clarksville Facility Clarksville Facility
    528 Dover Road
    Clarksville, TN