Anderson Lock Storage

92,767 NRSF | 712 Units + Opportunity for Additional Expansion/Conversion

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Call for Offers:

March 9, 5:00 PM

INVESTMENT OVERVIEW

Anderson Lock Storage which consists of 92,767 NRSF of storage and warehouse space, has seen some impressive upgrades over the last few years. Current owners have successfully renovated the buildings and improved management of the business and despite the CAPEX and management improvements that have already been implemented, this property has plenty of upsides remaining for an investor to acquire a strong value- add investment.

Anderson Lock Storage consists of 708 non-climate units in addition to 4 climate-controlled warehouse units that sit on the parcel adjacent to the property. The property has seen upgrades including 400+ new unit doors, new fire extinguishers, septic, LED lights, security surveillance, and brand-new metal roofs.

The property is 92% full and is still 38% economically vacant. The occupancy alone boasts an immense amount of upside both internally and externally through rate management.  The property has a vacant warehouse shell that can be converted to storage and some additional land to add storage on the adjacent parcel, which presents even more upside for an investor to expand. Lastly, the billboard on the property, as well as a vacant and rentable apartment on-site, bring even more opportunities for an investor to increase revenue.

Facility Summary

Property Name:                Anderson Lock Storage

Address:                             862 Hwy 28 Bypass, Anderson, SC 26925

County:                              Anderson

Total Land Area:               6.49 Acres +/-

Total NRSF:                        92,767 NRSF

Total Units:                        712

Climate-Controlled:         4

Unit Sizes:                          25-3200 SF

Physical Occupancy:       92%

Economic Occupancy:    62%

Buildings:                         10

Non-Storage:                   On-Site Apartment (Currently Vacant)

Investment Highlights

  • Brand new improvements including unit doors, roofs, LED lights, and security surveillance
  • Strong lease-up since upgrades were implemented, proving continued demand in the market
  • Significant up- side through rate management. In-place rates are well below internal standard rates and standard rates are below competitors
  • Convenient location and exceptional visibility from Highway 28, with a traffic count of 23,000 vehicles per day
  • Additional opportunity to expand through conversion of warehouses or new build on an adjacent parcel