HIM Self Storage is a value-add facility that consists of 559 units among 87,265 NRSF located in Decatur, AL which is a suburb of Huntsville. Included is a mix of 49 climate-controlled units, 507 non-climate-controlled units, 4 parking spaces, and a billboard leased to Lamar Advertising for $1500 per year.
HIM Self Storage is the largest and most prominently located facility in Decatur, with excellent visibility along Beltline Rd, which witnesses approximately 30,000 vehicles per day along with a digital sign to boost visibility.
Currently, the facility has strong physical occupancy of 99.2% and economic occupancy of 79.7%, which indicates significant rate upside on in-place tenants in conjunction with continued demand for storage in this trade area. This facility benefits from a lack of sophisticated competition, with the only institutional operator in the market achieving significantly higher rates. HIM Self Storage is being offered free and clear of any existing debt, and is being priced at $10,000,000.
|Property Name||HIM Self Storage|
|Address:||2600 Beltline Rd SW, Decatur, AL 35601|
|Unit Sizes:||45-1000 SF|
|Buildings:||19 Storage Buildings|