This offering presents a unique opportunity to acquire 3 professionally managed self-storage facilities located within the booming Nashville Metro. The Nashville MSA has seen tremendous growth over the last few years, with the population growing by an impressive 5.9% from 2019 to just under 2.1 million residents in 2022. The state’s business friendly environment has also helped attract major companies to the Metro, including the headquarters of major companies like HCA Healthcare and Dollar General. Earning the nickname “Music City”, Nashville offers a thriving entertainment industry that has continued to bring both tourists and new residents to the city.
The Antioch Pike Facility is located just 18 minutes south of downtown Nashville, easily accessed via Interstate 24. Built in 2020, this is the newest facility within its 3-mile trade-area, offering all the latest security features and a modern design. The 62,275 rentable square foot facility offers a mix of 358 climate-controlled interior units, 144 drive-up units, and 40 parking spaces. Located within a densely populated trade area, there are over 91,800 residents within a 3-mile radius and over 51% of housing units occupied by renters. The facility is currently at 84% physical occupancy.
Located just north 15 minutes of downtown Nashville, The Brick Church Pike facility is situated directly next Interstate 24 which sees an impressive 54,190 average daily traffic volume directly next to the facility. Built in 2019, this facility is also the newest in its 3-mile trade area, offering 341 climate-controlled interior units and 157 drive-up units totaling 59,175 rentable square feet. The facility’s 3-mile trade-area has seen a strong population growth rate of 1.8% annually since 2020, highlighted by the 3 multifamily developments totaling 663 units currently under construction within 1.5 miles. The facility is currently at 94% physical occupancy.
The third facility Is located 30 minutes southeast of downtown Nashville, in La Vergne, TN. The facility
is situated directly along the heavily trafficked Murfreesboro Rd which leads directly into the city’s center, and is under a mile away from the Smyrna/Rutherford County Airport. The 62,525 rentable square foot facility, built in 2019, offers 356 climate-controlled interior units, 98 drive-up units and 28 parking spaces. The population within a 3-mile trade area has seen a strong annual growth rate of 1.9% since 2020, paired with a strong median household income of over $71,000. The facility is currently at 88% physical occupancy.
Take advantage of the opportunity to acquire three established facilities in one of the fastest growing MSAs in the nation. The three nearly stabilized facilities offer the opportunity to increase revenue by bringing current achieved rents up to market levels. Buyers have the opportunity to acquire of $1.38 MM in NOI in one of the nation’s fastest-growing metros with significant future upside.