AAA Storage Hattiesburg

48,525 NRSF| 257 Units | Hattiesburg, MS

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INVESTMENT OVERVIEW

AAA Storage is a heavy value-add self-storage facility consisting of 48,525 NRSF among 257 drive-up self-storage units. Currently, the facility is 68% physically occupied, with an economic occupancy of 54%. AAA Storage Hattiesburg is extremely mismanaged, offering a new operator multiple upsides immediately upon takeover, including further lease-up, rental rate management, and driving ancillary income sources such as tenant insurance and retail sales.

AAA Storage Hattiesburg is well located and benefits from its proximity to a number of multifamily communities, national retailers, and the University of Southern Mississippi.

AAA Storage Hattiesburg is priced at $1,750,000 which represents $36 PSF and a 7.28% Cap Rate in Year Two.

Facility Summary

Address:             603 Thornhill Dr, Hattiesburg, MS 39402

Price:                   $1,650,000

Cap Rate:           7.28% Year 2 Cap Rate

County:               Lamar

NRSF:                  48,525

 

Units:                  257

 

Drive Up Units:  257

 

Occupancy:        68% (Physical) | 54% Economic

Unit Sizes:          50-900 SF

Buildings:           4 Single Story Buildings

Investment Highlights

  • 48,525 NRSF | 257 Units
  • Priced well below replacement cost at $36 PSF
  • Extremely mismanaged offering significant upside
  • Solid location, nearby multiple apartment communities and the University of Southern Mississippi