Aaron and montana self storage

64,850 NRSF| 504 Units | Conyers, GA (Atlanta MSA)

Call for Offers: Tuesday, December 7th, 5:00 PM


Aaron and Montana Self Storage is a value-add self-storage facility consisting of 64,850 NRSF situated on 6.75 acres of land. The facility is located in the outlying suburb of Conyers, GA which is a key component of the Atlanta MSA. Included is a mix of 432 single-story, drive-up units ranging from 25-250 SF, along with 72 open parking spaces. The facility was constructed in 2003 and features a spacious well-appointed leasing office, cement drive aisles, keypad gate access, and security cameras throughout.

Currently, Aaron and Montana Self Storage sustains strong physical occupancy of 96%, with an economic occupancy of 83%, which indicates ample opportunity to increase rates on existing tenants. Significant opportunity exists with regards to rate management. Rents at Aaron and Montana Self Storage are far below comparable averages, with an in-place GPI under $12 PSF, with competitors asking rents ranging from $20-33.48 PSF for 10×10 Drive-Up Units.  

Aaron and Montana Self Storage benefits from its visibility, signage, and access along Iris Drive, with supplementary visibility along I-20 which witnesses traffic counts in excess of 100,000 VPD. Further, the facility is located among a multitude of dense residential developments and national retailers, including the Mall at Stonecrest, which is a 1.2mm SF indoor/outdoor super-regional shopping center.  

Aaron and Montana Self Storage offers a new operator a number of easily achievable operational upsides, primarily through increasing in-place and adding ancillary income sources. The facility does not currently charge admin fees and does not have a tenant insurance program.

Further, the facility is primed for expansion, upon the underutilized outdoor parking area. This area would likely support an additional 20,000+ NRSF of self-storage.

Facility Summary

Address:            2500 Iris Dr, Conyers, GA 30094
County:              Rockdale
Land Area:         6.75 AC +/-
NRSF:                   64,850
Units:                  504
Non-Climate Units: 504
Occupancy:        96% (Physical) | 83% Occupancy
Unit Sizes:          25-250 SF 
Buildings:           3 Single Story Metal Buildings 
Access:                Keypad Gate Access, Security Cameras Throughout

Investment Highlights:

  • 64,850 NRSF | 504 Units
  • Significant opportunity to drastically increase rental rates, as comparable averages range from $20-$33 PSF
  • Well located in the Atlanta MSA with signage and visibility along Iris Dr. and I-20
  • Expansion ready on outdoor parking area 
  • Well maintained single story facility

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Jennifer Stein Real Estate, Inc., in association with Meridian Storage Group (Broker), has been exclusively selected to market for sale "Aaron and Montana Self Storage" (The Property)

Article I: The Property
In order to allow the Buyer to properly evaluate a possible acquisition or investment of Aaron and Montana Self Storage (hereinafter known as the “Property”), the Broker will furnish the Buyer with confidential and proprietary information. The Buyer shows genuine interest in the Property and understands and acknowledges the sensitive nature of the confidential information.

Article II: Confidential Information
A. Definitions. “Confidential Information” refers to all technical, marketing, financial and other business information and material that is confidential and proprietary, whether in oral, written, electronic or other form, and all reports, notes, analyses, studies or other documents which contain or otherwise reflect any such information.
B. Return of Confidential Information. At the conclusion of any negotiation, agreement or transaction relating to the Property, upon termination of this Agreement or at the request of the Seller, the Buyer agrees to promptly return or destroy all Confidential Information without retaining any copies thereof or any notes relating thereto.

Article III: Disclosure
A. Non-Disclosure. The Buyer shall not use or disclose Confidential Information for any purpose other than evaluation in regard to a possible acquisition or investment or to any other person or business entity, nor shall the Buyer permit any third party (employees, officers, directors, agents, consultants or contractors) to do the same. The Buyer shall not and shall not permit any third party to disclose to any other person or business entity the fact that any discussion or negotiations are taking place with respect to the Property. All parties agree to keep potential transactions and the terms of this Agreement completely confidential.
B. Representatives. Confidential Information shall only be disclosed to the Buyer’s employees, officers, directors, agents, consultants or contractors who need to know such information solely in connection with business opportunities relating to the Property. All such representatives shall be informed by the Buyer of the confidential nature of the Information and shall be bound by the terms herein. By accepting the Confidential Information, Buyer acknowledges that they are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Meridian Storage Group must be compensated by Buyer, and agrees that it will not look to the Owner, the Owner’s Lender or Broker for any fees or commissions in connection with the sale of the Property as no fees or commissions are being offered.
C. Compelled Disclosure. Buyer may disclose Confidential Information only when acting in compliance with a civil investigative demand, valid court order or other legal obligation, provided that the Buyer notifies the Seller of any such request as promptly as feasible.

Article IV: Term
This Agreement and all the terms, conditions and provisions hereof shall survive for a period of one year from the date of the closing of any purchase, or investment agreement, whether the transaction is successful or unsuccessful, or if the Confidential Information becomes publicly available, whichever occurs first.

Article V: General Provisions
A. Entire Binding Agreement. This Agreement sets forth the entire understanding and agreement between the parties with respect to the subject matter hereof and supersedes all other oral or written representations and understandings. This Agreement may only be amended or modified by a writing signed in advance by the parties. This Agreement is binding upon the successors, assigns and legal representatives of the parties, and protects Confidential Information of any successors or assigns of the Seller.
B. Remedies. The Buyer understands and agrees that failure to perform any and all obligations hereunder, or failure to comply with any terms or conditions hereof, could cause the Seller irreparable harm for which monetary damages are not adequate compensation. Accordingly, the Seller shall be entitled to injunctive relief to specifically enforce the terms of this Agreement, in addition to any other remedies available to it at law or in equity.
C. Accuracy. Broker makes no representations or warranties with respect to the accuracy or completeness of the Confidential Information or otherwise under this Agreement, and hereby disclaims all implied warranties. Buyer agrees not to hold liable the Broker, nor any other representative arising from the use or disclosure of the Confidential Information.
D. Contact. Buyer shall not contact any of the Property’s employees, suppliers, customers or tenants, nor enter into any discussion with the above-mentioned, at the Property without the express written permission of the Seller.
E. Severability. If any provision of this Agreement is held to be illegal, invalid or unenforceable, such provision shall be eliminated or limited to the minimum extent such that the legality, validity and enforceability of the remaining provisions will not be affected or impaired.
F. Prevailing Party. If any litigation is brought by either party regarding the interpretation or enforcement of this Agreement, the prevailing party will recover from the other all costs, attorneys’ fees and other expenses incurred by the prevailing party.

IN WITNESS WHEREOF, the parties hereto understand and agree to the terms and conditions herein and have executed this Agreement as of the dates written below.