Gluckstadt Security Storage is a value-add self storage facility consisting of 25,100 NRSF among 104 drive-up units, 70 fully climate-controlled units and 26 rentable parking spaces and is situated on approximately 4.051 acres of land, offering future expansion to meet the high demand within the market. Currently, the facility is 85% physically occupied (SF), with an economic occupancy of 68.76% offering future ownership considerable upside through leasing vacant units and bringing current tenants to market rates.
Gluckstadt Security Storage, offers a new operator multiple upsides immediately upon takeover, as the facility is currently run by the owner, with no on site or online leasing capability, and no office. Despite this, the property is immaculately maintained and has little to no immediate capex needed.
Gluckstadt Security Storage is well located within the wealthy suburbs of North Jackson, and benefits from its high visibility along highway 51. Gluckstadt Security Storage is priced at $2,650,000 which represents $105 PSF and 7.68% Cap Rate in Year 2.
Property Name: Gluckstadt Security Storage
Price per SF: $105
Cap Rate: 6.4% (Yr. 1) | 7.68 *Yr. 2)
Address: 2195 US-51, Madison, MS 39110
Total Land Area: 5.55 Acres +/-
Total NRSF: 25,100
Total Units: 104
Drive-Up Units: 70
Parking Spaces: 26
Unit Sizes: 50-300 SF
Physical Occupancy: 85%
Economic Occupancy: 68%
Buildings: 5 Single Story Buildings