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Off Market
1/12

1699 Airways Blvd
Memphis, TN 38114


HIGHLIGHTS

  • NEW Reduced Price! - $16,000,000
  • Opened August 2023
  • 1,185 All Climate-Controlled Units with 80 Outside Parking Spaces
  • Achieved 54% Occupancy (680 Units) in Just Under 24 Months
  • Ongoing Consistent Occupancy Growth
  • Potential for Expansion on 6+ Acre Lot

OVERVIEW

Airways Storage, conveniently located at 1699 Airways Blvd. in Memphis, TN, opened in late 2023, offering 1,188 state-of-the-art climate-controlled units and 80 secure parking spaces across an expansive 128,510 ± RSF. Situated on a 6+ acre parcel, this premier facility provides a unique opportunity for future expansion, allowing buyers the potential to develop an additional free-standing storage building. 60% physical occupancy in just 24 months! Designed with security and accessibility in mind, Airways Storage boasts a cutting-edge 24-hour monitored security system, a modern office space, and fully secured, gated parking. The facility also features secured drive-through access, enhanced by high-speed digital roll-up doors, along with loading dock access for convenient loading and unloading. A feasibility study has been conducted and is available upon request. Disclosure: This is a Brownfield Site. A "no further action is required" letter has been received and is available for review. Buyers are encouraged to seek the advice of environmental specialists and environmental legal counsel.

FOR SALE DETAILS

PRICE

-

CAP RATE

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% LEASED

-

TENANCY

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BUILDING DETAILS

PROPERTY NAME

Airways Storage

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

146580

STORIES

2

BUILDING CLASS

C

YEAR BUILT

1946

SPRINKLERS

-

PARKING SPACES

140

LAND DETAILS

LAND ACRES

6 AC AC

LAND SF

261,360 SF

ZONING

-

APN/PARCEL ID

04-7005-0-0005C