AAA Storage Hattiesburg

48,525 NRSF| 257 Units | Hattiesburg, MS

Under Contract

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