908 N Roan St - Self-Storage Facilities FOR SALE


Johnson City, TN 37601- Downtown Johnson City
$1,395,000 USD
615-997-2861
908 N Roan St, Johnson City, TN for Sale
$1,395,000 USD
Self-Storage Facilities - FOR SALE
1/15
null | 6.19% Cap Rate

908 N Roan St
Johnson City, TN 37601
Downtown Johnson City


HIGHLIGHTS

  • 52,221 Residents within Three-Mile Radius with ~2.5% Growth Over the Last Four Years
  • Strategically Located on North Roan Street (8,500 VPD) in the Heart of Johnson City
  • Additional Income Opportunity Through Physical and Economic Occupancy Gains
  • Management Upside with Minimal Administrative Fees and Only 10% Tenants Insurance Penetration

OVERVIEW

Contact Andrew Beeckman for further information INVESTMENT OVERVIEW Marcus & Millichap is pleased to exclusively offer for sale Store Safe TN located at 908 North Roan Street Johnson City, Tennessee 37601. Strategically located at the economic center of Washington County, this facility provides a comprehensive range of storage solutions for both residential and commercial users. Store Safe TN features a total of 118 units comprising of Climate-Controlled, Office / Flex, and Drive-up with a total of 12,027 Net Rentable Square Feet. With the exception of six drive-up units, the facility is fully gated & fenced utilizing modern OpenTech keypads. The sites asphalt drive aisles allow for a clean user experience and includes additional safety features such as security cameras throughout. The rental office provides a fully functional workspace for a District Manager, Owner/User or could be rented to a commercial tenant. With ample potential to increase occupancy, the facility features ~2,800 square feet perfect for commercial users who service the bustling Johnson City area. The primary value-add component of the opportunity is with occupancy gains, both physical and economic. Some of this is space is considered, Flex space and, with recent lease comps that reflect a market rate of $14-15/ft the economic upside to add ~$40,000 annual to income is tangible. Store Safe TN is located across from Northside elementary school and benefits from an average daily traffic count of nearly 8,500 vehicles. With over 52,000 residents in a three-mile radius, the location enjoys strategic regional access to the Johnson City area. Johnson City is located in the Tri-Cities region of the Appalachian Mountains in northeastern Tennessee. Located 1.4 miles from East Tennessee State University (ETSU) and nearby the Holston Business and Technology Park, and the U.S. Army National Guard Recruiting Center, this prime location enables the investor to cater to a broad range of long-term and transitional consumer needs. This inherent flexibility lowers the risk of supply/demand shocks and enhances the property's versatility and income potential. Priced at $1.395,00 0, the seasoned investor can attain a double-digit cash return after minimal enhancements.

FOR SALE DETAILS

PRICE

$1,395,000 USD

PRICE/SF

$116 USD /SF

CAP RATE

6.19%

% LEASED

-

TENANCY

-

SALE TYPE

Investment Or Owner User

BUILDING DETAILS

PROPERTY NAME

Store Safe TN

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

-

YEAR BUILT

1998

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.8 AC

LAND SF

34,848 SF

ZONING

-

APN/PARCEL ID

046K-H-025.00

ASK ABOUT THIS PROPERTY

Andrew BeeckmanMarcus & MillichapMore Info
615-997-2861

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.

Andrew BeeckmanMarcus & MillichapMore Info
615-997-2861

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.