Core+ Self-Storage Opportunity – Cary, NC
3301 NC-55 Cary, NC 27519
This offering presents an opportunity to acquire a single story self storage facility. This facility is comprised of 61,770 rentable square feet spread across 268 drive up units, 241 climate controlled ground floor units and 27 uncovered parking spaces. The Property has been well maintained with minimal deferred maintenance, and the owner has completed several key upgrades since late 2022, including gutter and downspouts replacements, targeted roof repairs, signage and branding enhancements, a full exterior repaint in summer 2024, and more.
Currently, the facility is 95.7% occupied, with parking at 100% occupancy. Despite strong physical occupancy, the prior management lacked an efficient revenue optimization strategy. Since Extra Space took over in January 2025, occupancy has risen from 83.2% to 95.7%, and revenue has grown significantly.
Between June and August 2025, Extra Space issued 326 ECRIs, resulting in a rent roll increase from $56.8k in April to $70.4k in August – a 24% increase. Based on Cushman & Wakefield’s rent survey, there is potential to increase monthly rent to over $80k in the near term.
The Property is strategically located along NC Hwy 55 in Cary, NC, one of the Triangle’s most active and desirable growth corridors. The 3-mile trade area surrounding the site features strong demographics, steady population growth, and limited availability of quality self storage options. Cary continues to attract high-income households and new residential development, supporting consistent demand across asset classes. The site benefits from excellent visibility and direct access to major routes including I-40 and I-540, connecting it to key submarkets such as Apex, Morrisville, and downtown Raleigh. Ongoing development activity and sustained population inflow further reinforce the need for accessible and well-located storage solutions in this corridor.