A Main Street Storage is a fully stabilized asset, advantageously located in the heart of Statesboro, Georgia and consisting of 30,410 NRSF among 326 total units. The facility is comprised of 3 separate properties, all within 1 mile of each other. The main location is advantageously located on Main Street which is at the heart of Statesboro and minutes away from Georgia Southern University. The facility boasts a traditional array of unit sizes ranging from 5×5 units to 17×30 units.
A Main Street Storage currently enjoys a strong physical occupancy of 92.3% and an economic occupancy of 81.2% which illustrates the rate management upside of the facility. A Main Street Storage benefits from limited competition within the trade area, as well as a prominent, central location on Main Street, within a mile of downtown Statesboro.
A Main Street Storage offers an investor a stabilized self-storage facility, with additional long-term upside through increasing rental rates to comparable averages, reducing expenses, and eliminating the in-place rental rate variance, which is currently approximately $2,550 per month. Further value can be added by implementing a comprehensive tenant insurance program, increasing retail sales, and implementing fee-income drivers as there are zero ancillary income sources that current ownership maintains.