Storage Inn

$1,700,000 | 20,525 NRSF | 141 Units | Greeneville, TN

Under Contract

INVESTMENT OVERVIEW

Storage Inn is a climate & non-climate controlled facility that features 20,585 NRSF & 141 units. The facility is situated on 2.3 acres in the heart of Greeneville, TN, and receives an estimated 23,270 cars passing by per day via East Andrew Johnson Highway. The facility features a massive rate upside and is well below current market rates. The facility features 137 Non-Climate drive-up units and 4 office/retail units. The Marines, Army, Check Advance, and Mortgage Investors Group currently occupy the 4 units. The facility also features large concrete drive aisles, a state-of-the-art security system, an electronic gate, and a fence that surrounds the property.

The facility requires little to no capital expenditures and has an additional 0.85 acres of land that can be used for expansion. Since 2010 the population has increased by 28.31% in a 1-mile radius and in a 3-mile radius, the average household income is $74,571.

FACILITY SUMMARY

Property Name Storage Inn
Address: 3145 E Andrew Johnson Hwy, Greeneville, TN 37745
County: Greene
Total Land Area: 2.30 Acres +/-
Total NRSF: 20,525
Total Units: 141
Physical Occupancy: 100%
Economic Occupancy: 86%
Buildings: 4 Buildings

INVESTMENT HIGHLIGHTS

  • Well below market rates
  • Excellent road frontage (23,270 cars per day)
  • Population increase 28.31% in a 1-mile radius since 2010
  • $74,751 Average household income in a 3-mile radius