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.