17 South Mini Storage

$5,300,000 | 30,725 NRSF | 191 Units

Under LOI

INVESTMENT OVERVIEW

17 South Mini Storage is a value add facility with ample expansion opportunity in the burgeoning Savannah, GA market. 17 South Mini Storage is incredibly well located, with excellent frontage and visibility along Ogeechee Road, which is one of the busiest thoroughfares in Savannah. The facility consists of 30,725 NRSF among 191 total units. Also included is a 2,700 SF Restaurant with a month-to-month tenant which fronts Ogeechee Road offering upside to re-lease to a national tenant, or redevelop into more self-storage. The seller’s electric company occupies approximately 3,500 SF as well as all the covered parking spaces, and pays a total of $9000/month for these units. Current occupancy is roughly 96% (Unit) and 81% (Economic) which demonstrates significant upside for a future operator. Rental rates at 17 South Mini Storage are far below market and would greatly benefit from a sophisticated rate-management program. 17 South Mini Storage is situated on approximately 4.3 Acres, which allows for considerable expansion to meet the strong demand for self-storage within the trade area.

FACILITY SUMMARY

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Property Name 17 South Mini Storage
Address: 4119 Ogeechee Rd, Savannah, GA 31405
County: Chatham
Total Land Area: 4.3 Acres +/-
Total NRSF: 30,725
Total Units: 191
Unit Sizes: 50-3500 SF
Physical Occupancy: 96%
Economic Occupancy: 81%
Building Count: 6 Storage Buildings, plus Covered Parking

 

INVESTMENT HIGHLIGHTS

  • 81% economic occupancy, proving the opportunity for room to increase rental rates on existing tenants
  • Ample room to expand the facility
  • Well located along Ogeechee Rd, which is one of the busiest roads in Savannah
  • Opportunity to redevelop or re-lease restaurant property