Birmingham MSA Self-Storage Conversion Opportunity – Fairfield, AL
7201 Aaron Aronov Dr, Fairfield, AL 35064
Take advantage of an exclusive opportunity to acquire a shovel ready self-storage conversion opportunity located in the Birmingham, AL MSA, the largest population center in the state with more than 1.1M residents. The property is located in the community of Fairfield which is just 8 miles from the Birmingham city center. Fairfield is home to Miles College which has a student population of over 1,500 students.
This conversion opportunity is located one mile from Interstate 20 which is a major artery into Downtown Birmingham. The site, a former Walmart location, is surrounded by numerous retailers with over 112,000 residents within a 5 Mile radius. The existing building consists of is 201,543 gross square feet (MOL) available to be converted into climate controlled self storage as well as other uses. Sellers have provided a potential unit mix and layout for 675 climate-controlled storage units, covering approximately 83,200 NRSF. Additionally, there is room for adding more climate storage and outdoor RV/Boat Parking. Within a 3 Mile radius of the property, there are currently only 4.5 SF/Capita of existing storage supply, which is well below the national average, indicating that this area can easily absorb additional self storage supply. Seller financing is available for this opportunity. Additionally, the seller has secured an approved, special exception request from the City of Fairfield, giving special permission for self-storage to be located at this location, raising the barriers for future storage developments.
All elements considered, this sale presents a unique opportunity to secure a facility in an area with high demand and low existing supply, as well as the option to expand in the future. This opportunity checks all of the high demand boxes!