Hattiesburg Mini Storage

12,000 NRSF | 76 Units | Hattiesburg, MS | Offering Price: $650,000

Under Contract

INVESTMENT OVERVIEW

Hattiesburg Mini Storage is in Hattiesburg, MS, and is conveniently located behind a heavily-trafficked retail mall off the Lincoln Road extension. The property was build in 2007 and consists of 76 storage units ranging from 25-300 SF. The current owner began lease-up in April 2022 (no implementation of advertising or management), leaving upside for an investor to effectively acquire new tenants and improve occupancy and income. This opportunity is perfect for a new investor who is looking for a beginner-type of investment in a lucrative industry. Assuming stabilization at Year 1, a new owner will be looking at a cash flow of $40,000/year and $50,000 by Year 2.

This opportunity alongside the Tupelo Lock Storage, Main Street Mini Storage & MS Value-Add Portfolio (also listed on our website) offers a new investor the ability to acquire a strong storage footprint in this trade area.

Facility Summary

Property Name Hattiesburg Mini Storage
Address: 4376 Lincoln Road Ext, Hattiesburg, MS 39402
County: Forrest County
Total NRSF: 12,000 NRSF
Total Units: 76 Units
Unit Sizes: 23-300 SF
Physical Occupancy: 14%
Economic Occupancy: 11%
Buildings: 2 Drive-Up Buildings

 

Investment Highlights

  • Convenient location off of Lincoln Road Extension
  • Lease-up opportunity offering immediate up-side
  • Opportunity for implementation of experienced management, to achieve successful lease-up and achieve income projections
  • Awesome opportunity for a new investor looking to enter the storage sector
  • Stabilized NOI of over $40,000
  • Opportunity to acquire a strong footprint in this specific trade area (See Tupelo Lock Storage, Main Street Mini Storage & MS Value-Add Portfolio)