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Market Bid

NRSF – 90,965

Phoenix, AZ

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This 90,965 net rentable square foot facility includes 706 climate-controlled units and 14 convenient drive-up units. Constructed in 2020, the nearly brand-new facility features 24/7 state-of-the-art video surveillance, controlled floor and building access, extra-wide aisles, and drive-thru loading access. The two-story building also features gated access for the drive-up units with a spacious loading area.

Located right on the main thoroughfare of W Northern Ave, visibility is strong with an annual average daily traffic volume of 33,971 vehicles. The location offers convenient access to both Interstate 17 and Route 51. The facility is also surrounded by many fast-food, retail, restaurants, and grocery stores. The trade area also boasts a dense population, with 184,037 people in a 3-mile radius. Multifamily supply in the area is substantial, with 4 new developments completed since 2019 and 2 under construction within 1 mile of the facility.

Physical occupancy is at 87% with economic occupancy at 75%, allowing for ample revenue growth as Phoenix continues to be one of the fastest-growing metros.

INVESTMENT HIGHLIGHTS

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Market Bid

NRSF – 70,281

Phoenix, AZ

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This 70,281 net rentable square foot facility includes 517 climate-controlled first-floor units and 18 climate-controlled drive-up units totaling 535 units, as well as 4 RV & boat parking spaces with gated access. It includes premium features including gated access, 24/7 surveillance, and a drive thru loading area.

The 3-mile trade area boasts a dense population of 152,254 people with strong growth trends benefitting from recent migration trends. Located at the intersection of W Greenway Rd and N 35th Ave, the facility has exceptional visibility with approximately 64,000 annual average daily traffic volume. The facility is also located in close proximity to many fast-food restaurants, grocery stores, and retail locations, as well as easy access to Interstate 17.

With physical occupancy at 90% and economic occupancy at 55%, the strong migration trends provide ample opportunity for revenue growth and rate increases as Phoenix continues to be one of the fastest-growing metros. This facility also boasts an impressive in-place net operating income of just under $1MM.

INVESTMENT HIGHLIGHTS

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Market Bid

NRSF – 84,911

Dunwoody, GA

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This 84,911 net rentable square foot facility includes 855 units of a wide variety of sizes to meet all storage needs. Spread over 3 stories, the fully climate-controlled facility offers 224 first-floor units, 615 elevator-accessible units, 8 lockers, and 8 Parking spots. Amenities include a 24-hour state-of-the-art surveillance system, indoor access, extra-wide aisles, and elevators. Constructed in 2020, this facility is nearly brand new.

The 3-mile trade area boasts a dense population of 103,528 in the Atlanta metro area, with a strong average household income of $149,817. Due to its proximity to Atlanta, and abundance of shops, restaurants, parks, and strong schools, Dunwoody is home to many young professionals and families. Situated just off I-285 which fields an annual average of 213,000 vehicles daily. Within a 1-mile radius, there is a significant multifamily supply, including 4,490 units across 15 locations.

The area has experienced strong population growth which has boosted the density and income levels. With strong occupancy and the ability to raise rents to market levels, this opportunity offers considerable upside in operations and revenue enhancement.

INVESTMENT HIGHLIGHTS

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Dallas and Atlanta Advance, Threaten Tennessee Capital’s Dominance

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Market Bid

NRSF – 105,207

Atlanta, GA

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This 105,207 net rentable square foot facility includes 468 climate-controlled first floor, and 709 climate-controlled elevator-accessible units, with a wide variety of unit sizes to meet the needs of its tenants. The Class A self-storage opened its doors in August 2020 and features modern amenities such as a contemporary leasing office, 24-hour video surveillance, a covered loading bay, and more.

The facility is located approximately 9 miles northwest of Downtown Atlanta, Georgia, placed just off Marietta Blvd NW which has an annual average traffic count of 25,600 vehicles daily.

The 3-mile trade area has 67,549 people and boasts a strong median household income of $97,499. The trade area features a material amount of existing and inbound complimentary multifamily and retail projects. This includes 2 newly constructed mid-rise apartment buildings, a Publix grocery store, a CVS Pharmacy, and more.

This asset is perfectly located in a market with strong tailwinds due to U.S. migration trends. Since opening in August 2020, this asset has leased up at a healthy pace and is currently 76% occupied on a square foot basis. It currently generates over 100 thousand dollars per month in net rental income while still in its final stage of lease-up.

INVESTMENT HIGHLIGHTS

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Market Bid

NRSF – 70,548

Brentwood, TN

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This 70,548 net rentable square foot facility includes 309 climate-controlled first-floor units and 314 climate-controlled elevator-accessible units. Constructed in 2020, this 4-story facility offers premium features including 24/7 video surveillance, password-protected floor, and building access, as well as a wide range of sizes to meet any tenant’s storage needs. The nearly brand-new facility has a clean and modern design, featuring a charming brick exterior.

Located just south of downtown Nashville, this facility lies within one of the fastest-growing metros in the country. The 3-mile trade area has seen significant population growth over the last decade, with the population growing by 18% since 2010. The 3-mile trade area also boasts an impressive median household income of $134,125. There is also easy access to major roadways, with the facility being situated right next to Interstate 65 and US Route 31.

With physical occupancy at 85% and economic occupancy at 49%, this asset gives investors the opportunity to bridge the gap between achieved rents and current market rents. Based on current market conditions, we estimate that expected returns are in the low-to-mid teens.

INVESTMENT HIGHLIGHTS

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Market Bid

NRSF – 68, 778

Denver, CO

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This 68,778 net rentable square foot facility offers 704 climate-controlled units and 22 drive-up units of varying sizes across 4 stories. It includes premium features, including elevators, extended access hours with keypad entry, instant access rentals, and 24/7 surveillance with a state-of-the-art security system.

The facility is well located in a major shopping center in Glendale, CO, situated in the middle of major retail, fast food, restaurants, and grocery stores. The 3-mile trade area has a dense population of 223,749 people and a strong average household income of $138,065. Multifamily supply is substantial, with over 1,598 apartment units within a half-mile radius, with multiple planned developments nearby to meet the demand from strong population growth.

Physical occupancy is currently 94% with economic occupancy at 67%. With an impressive in-place net operating income (on adjusted trailing-1 month basis), this physically stabilized facility offers investors with an opportunity to significantly increase rental income by raising rents on select tenant groups. This asset is well insulated against vacancy / tenant attrition due to the booming underlying asset and submarket fundamentals.

INVESTMENT HIGHLIGHTS

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Market Bid

NRSF – 61,052

St. Petersburg, FL

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This 61,052 net rentable square foot facility features a total of 588 units. The structure is outfitted with unique drive-thru access into the facility with state-of-the-art security features, such as electronic gate access, controlled floor access, and 24/7 video surveillance. A wide variety of sizes cater to any tenant’s needs, offering 554 climate-controlled units and 34 non-climate units across 4 floors.

Built in 2018, this self-storage facility is located on 2nd Ave N near the intersection of Central Ave and 16th St N. The prime location is convenient for residents of St. Petersburg’s (St. Pete) major neighborhoods, including the Downtown Core and Historic Kenwood, as well as students from the University of South Florida’s (USF) St Pete Campus, located just 1.5 miles down the road. St. Pete is the metro’s second largest city, growing at a rate of 0.33% annually with a notable 9.13% population increase since 2010. Rental rates have also skyrocketed to keep up with demand, exceeding 20% year-over-year growth in Q3 2022.

This location is a part of a high-growth market, benefitting from recent migration trends and increasing population density. With a strong physical occupancy of 94%, this nearly stabilized facility offers room to raise rents and enhance revenues with growing storage demand.

INVESTMENT HIGHLIGHTS

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Price: Marked Bid
NRSF – 104,565

Yukon, OK

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UStorageOK represents an exceptional opportunity to acquire a newly constructed self-storage facility in one of Oklahoma City’s most affluent and growing suburbs, Yukon, OK. Well positioned in a top 50 U.S. Metropolitan Statistical Area, the facility features both climate controlled, standard storage and fully enclosed boat/RV units. With a 21,850 square feet building of new units leasing up in the first half of 2022, the opportunity has excellent historical lease up numbers and immediate growth potential. The facility contains an additional 1.25 acres of land for a future 21,500 square foot building and adding an additional 26% in Gross Potential Revenue. The fenced-in land is approved and ready for development with expansion plans included in the sale. Currently owner/operated, UStorageOK represents an exceptional opportunity to take advantage of an owner managed, class A facility with great lease up history and expansive room for growth.

Newly constructed in 2019 on 6.1 acres, the facility is currently comprised of 194 climate-controlled units, 160 standard units,121 enclosed boat/RV units, and 2 boat/ RV spaces. The facility contains 104,565 net rentable square feet covering 477 total units. The additional 1.25 acres of land provides a buyer the opportunity for expansion up to roughly 125,000 net rentable square. The offering demonstrates solid projected leveraged IRRs of 12.1 percent in year five and 12.7 percent in year seven with those IRRS jumping to 13.6 percent in year five and 13.6 percent in year seven after expansion.
Overall, the facility has witnessed exceptional lease-up activity to date. The current physical and economic occupancies on the existing 104,565 square feet are 89 percent and 79 percent, respectively. The facility is equipped with a fully-fenced perimeter, gated access, a state-of-the-art video surveillance system and wide, easy to maneuver drives. The subject’s spacious office area consists of two manager’s offices and a showroom.

Located on Historic Route 66/Main Street in Yukon, OK, UStorageOK witnesses traffic counts of over 14,500 vehicles daily. As part of Canadian County, the fastest-growing region in Oklahoma, UStorageOK is surrounded by an excellent mixture of single-family residential communities and commercial developments meeting the needs of Yukon’s explosive growth. Within the past several years the City of Yukon has consistently expanded, leading to a 3-mile average household income of 96,018 with the unemployment rate well below the national average at 3.1%.

INVESTMENT HIGHLIGHTS

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Price: Market Bid
NRSF – 40,680

Albany, GA

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Take advantage of an exclusive opportunity to acquire a brand-new storage facility in Southwestern Georgia. Nicknamed “The Good Life City,” Albany is renowned as the regional hub for culture, shopping, education, healthcare, and recreation. The MSA is home to 146,961 who enjoy a comfortable cost of living 13 percent below the national average.

Currently under construction and scheduled to be completed in Q4 2022, the facility is optimally located on Turner Field Road with easy access from Interstate 19. A Walmart and grocery stores are within minutes of the property. 51,717 residents live within a five-mile radius of this central location.

Offering a total of 324 rentable storage units and situated on an 8.6-acre lot, the 40,680 square-foot structure includes climate-controlled storage options to protect against the sweltering Georgia heat. It is also equipped with modern security features to safeguard personal belongings.

All elements considered, this sale presents a unique opportunity to secure a new-construction facility in a densely populated area.

INVESTMENT HIGHLIGHTS

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Price: Marked Bid
NRSF – 80,789

Ridgecrest, CA

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This offering presents an opportunity to acquire a newly constructed self-storage conversion supplemented by income with the highly sought-after credit of Tractor Supply Company. The project is located in Ridgecrest, CA – a safe, growing military town located just south of the Naval Air Weapons Station China Lake, the United States Navy’s largest single landholding, representing 85% of the Navy’s land for weapons & R&D research.

Converted in 2022, the project consists of 48,450 net rentable storage square feet of storage demised into 457 units. All units are climate controlled. There is an additional 32,339 square feet currently occupied by Tractor Supply Company on an absolute triple-net lease through 2027 with four (5) year options to extend. The project totals 11.4 acres and provides potential expansion opportunities for RV/Boat storage as well as room for an additional retail pad development. The self-storage facility opened in February 2022 and is currently 33.5% occupied (as of 8/31/22). This presents an investor an incredible value-add opportunity through future lease-up and upside in rental income growth supplemented by the highly sought-after credit of Tractor Supply Company.

INVESTMENT HIGHLIGHTS

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