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50 Voss Ln - Big Stuff Storage | 47 Units 26,320 SF Specialty Building Offered at $1,395,000 at a 7.50% Cap Rate in Huntingdon, TN 38344
Investment Highlights
- Upside in loss-to-vacancy revenue of $40,846 annually.
- Spacious units with lighting & electrical outlets in each unit.
- Controlled gate access with fenced perimeter.
- Remotely managed, controlled access, low expenses.
- Wide drive isles to accommodate RV, Boats, or Equipment.
- Lake Halford is a major recreational, boating, and fishing attraction. Excellent location directly off HWY 70.
Executive Summary
Built in 2021, Big Stuff Storage is a secured access 26,320 SF RV, Boat, and Equipment storage facility comprised of 47 (non-climate controlled) spacious units in Huntingdon, TN. There are two metal constructed buildings with wide drive isles, plus each unit boasts a spacious 14 x 40 (560 SF/Unit) with lighting plus electrical outlets, and high clear heights.
The property features secure controlled key pad gate entry, a full perimeter fence with lighting for added security.
The value-add play to increase revenues is by allocating marketing dollars for maximum exposure since the owner currently only utilizes signage with a website. There's $3,400 per month or $40,846 in upside revenue based on loss-to-vacancy. The current in-place trailing Net Operating Income (NOI) is $69,090, although the stabilized NOI is projected at $109,026 equating to a 7.5% cap rate. The property has no deferred maintenance only requiring increased marketing expense and exposure.
An investor will benefit from increasing the revenue along with enjoying the really low monthly operational expenses while maintaining an 80-85% historical occupancy.
The property features secure controlled key pad gate entry, a full perimeter fence with lighting for added security.
The value-add play to increase revenues is by allocating marketing dollars for maximum exposure since the owner currently only utilizes signage with a website. There's $3,400 per month or $40,846 in upside revenue based on loss-to-vacancy. The current in-place trailing Net Operating Income (NOI) is $69,090, although the stabilized NOI is projected at $109,026 equating to a 7.5% cap rate. The property has no deferred maintenance only requiring increased marketing expense and exposure.
An investor will benefit from increasing the revenue along with enjoying the really low monthly operational expenses while maintaining an 80-85% historical occupancy.
Property Facts
| Price | $1,395,000 | Lot Size | 3.18 AC |
| Price Per SF | $53.00 | Building Size | 26,320 SF |
| Sale Type | Investment | No. Stories | 1 |
| Cap Rate | 7.50% | Year Built | 2021 |
| Property Type | Specialty | Parking Ratio | 0.91/1,000 SF |
| Property Subtype | Self-Storage | Opportunity Zone |
Yes
|
| Building Class | B | ||
| Zoning | 00 - No zoning regulations for this property. | ||
| Price | $1,395,000 |
| Price Per SF | $53.00 |
| Sale Type | Investment |
| Cap Rate | 7.50% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 3.18 AC |
| Building Size | 26,320 SF |
| No. Stories | 1 |
| Year Built | 2021 |
| Parking Ratio | 0.91/1,000 SF |
| Opportunity Zone |
Yes |
| Zoning | 00 - No zoning regulations for this property. |
Amenities
- Signage
1 1
Exceptionally drivable
100/100
Not bikeable
10/100
Property Taxes
| Parcel Number | 096-018.00 | Improvements Assessment | $368,720 |
| Land Assessment | $7,200 | Total Assessment | $375,920 |
Property Taxes
Parcel Number
096-018.00
Land Assessment
$7,200
Improvements Assessment
$368,720
Total Assessment
$375,920
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50 Voss Ln - Big Stuff Storage | 47 Units