INVESTMENT OVERVIEW
Marcus & Millichap is pleased to present the exclusive opportunity to acquire U Store Mini Storage located at 914 Peach St. Selmer, TN 38375. The facility is located on 2.33 acres and contains 94 units and 15,195 net rentable square feet. The property is located in McNairy County.
U Store Mini Storage presents a prime opportunity to invest in the growing self-storage asset class. The property is partially fenced with newly graveled drive aisles, a high tech camera Lorex system with remote monitoring capabilities and office space that is currently occupied (See Rent Roll). The site has room to add to expand approximately 3,000 net rentable square feet or self storage or portable units. The facility is currently 99% occupied and set up to operate remotely. The facility has been owner-operated as of July 2024 with very consistent results averaging $6,309 per month in income. Priced to sell at $650,000 ($42.78), in-place cash flow covers a 1.33 DCR and with the additional advantage of No real estate tax impact to NOI until 2027. The U Store Mini Storage opportunity provides the investor ample time to take the property to the next level and realize an 22.02% return on Proforma.
Selmer, TN is strategically located south of Jackson, TN - home to the future 6K Energy PlusCam battery production plant - and positioned between Memphis, Nashville and Huntsville. This bedroom community has a single competitor with the next closet facility located ~15 miles away.
INVESTMENT HIGHLIGHTS
• Room for expansion of ~3,000 square feet
• Minimal competition in the trade area
• Competitive Cap Rate with management upside
• Office has full security system with entry code pad; Single entrance with two office suites currently rented
• Lorex Camera system with full property coverage can be accessed real-time, remotely, via an app.
• Rent roll & Trailing income does not include ~600 sq/ft Contractor unit that is being swapped for Landscape and Maintenance services