Alternative Storage

33,850 NRSF| 236 Units | Marianna, FL

Under LOI

INVESTMENT OVERVIEW

Alternative Storage is a fully stabilized self-storage facility consisting of 33,850 NRSF among 181 Drive Up and 55 Climate Controlled units for a total of 238 units. The facility is situated upon 4.12+/- acres, offering new ownership ample room to expand. As the premium self-storage facility in the City of Marianna, Alternative Storage offers customers a number of amenities for security and convenience. 

Currently, Alternative Storage maintains outstanding physical and economic occupancies of 99% and 83%, respectively. This excellent performance is indicative of the quality of the asset, the strong demand within the trade area, and the excellent location. Rental rates at Alternative Storage are drastically low, with an in-place rent PSF of $5.76. This in-place rental income will allow a buyer considerable upside in managing both asking and in-place rental income. 

Recently, Alternative Storage underwent an expansion, adding in climate-controlled units. Further expansion potential exists on the site – offering new ownership considerable upside. 

Alternative Storage is priced below replacement cost at $2,150,000.

Facility Summary
Address:              3801 US-90, Marianna, FL 32446
 
County:               Jackson
 
Land Area:         4.12 AC +/-
 
NRSF:                  33,850 (26,150 NC | 7,700 CC)
 
Units:                  238 (181 NC  | 55 CC)
 
Occupancy:        98.8% (Physical) | 91% (Economic) 
 
Unit Sizes:          30-300 SQ FT
 
Year Built:         2016 (Phase I) | 2019 (Phase II)
 
Buildings:           5 Single Story Buildings, Cement Drive Aisles
 
Flood Zone:         X (Minimal Flood Hazard)
Investment Highlights:
  • 33,850 NRSF | 236 Units | Premier storage option in the trade area

  • Excellent physical and economic occupancies of 98.8% and 91%, respectively

  • Priced below replacement cost at $2,150,000

  • Ample room to expand

  • Low in-place rental rates, offering considerable upside