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Downtown Cleveland, TN Storage Portfolio 2 Specialty Properties Offered at $970,000 in Cleveland, TN
Investment Highlights
- Strong performing assets at 98% unit occupancy and 90% economic occupancy, displaying a healthy demand for storage in the area
- Going-in cap rate of 7.00% based on T-12 NOI with upside still remaining
- Favorable basis considering the portion of climate-controlled units
- Population is expected to grow 1.10% annual within 3 and 5 miles for the next 5 years
Executive Summary
This offering presents a two-location self-storage portfolio in Cleveland, Tennessee, strategically positioned to serve both downtown and suburban demand. Spanning a combined 13,029 square feet across 83 units, the portfolio maintains an impressive 98% physical occupancy and 90% economic occupancy, highlighting robust market demand. A portion of climate-controlled units provides an attractive amenity mix for customers and strong competitive positioning within the submarket.
With a going-in cap rate of 7.00% based on trailing-12-month NOI, this portfolio delivers an exceptional opportunity for investors seeking immediate income and future upside potential. Cleveland’s population is projected to grow approximately 1.10% annually within a 3-to-5-mile radius over the next five years, sustaining long-term demand for storage solutions. Conveniently accessible from major thoroughfares, these properties serve a growing residential and commercial base. This offering combines stabilized operations with value-add potential, making it an attractive acquisition for regional and national storage investors alike.
Name
Hutt Cooke
Company
Matthews Real Estate Investment Services, Inc
Firm & License
License # 263667, 356505 (TN)
Address
1600 West End Ave, Ste. 1500 Nashville, TN 37203
Phone
(866) 889-0550
With a going-in cap rate of 7.00% based on trailing-12-month NOI, this portfolio delivers an exceptional opportunity for investors seeking immediate income and future upside potential. Cleveland’s population is projected to grow approximately 1.10% annually within a 3-to-5-mile radius over the next five years, sustaining long-term demand for storage solutions. Conveniently accessible from major thoroughfares, these properties serve a growing residential and commercial base. This offering combines stabilized operations with value-add potential, making it an attractive acquisition for regional and national storage investors alike.
Name
Hutt Cooke
Company
Matthews Real Estate Investment Services, Inc
Firm & License
License # 263667, 356505 (TN)
Address
1600 West End Ave, Ste. 1500 Nashville, TN 37203
Phone
(866) 889-0550
Property Facts
| Price | $970,000 | Number of Properties | 2 |
| Price / SF | $37.22 / SF | Individually For Sale | 0 |
| Cap Rate | 7% | Total Building Size | 26,058 SF |
| Sale Type | Investment | Total Land Area | 0.75 AC |
| Status | Active |
| Price | $970,000 |
| Price / SF | $37.22 / SF |
| Cap Rate | 7% |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 26,058 SF |
| Total Land Area | 0.75 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 233 2nd St NE, Cleveland, TN 37311 | Specialty | 13,029 SF | 1999 | - |
| 2365 Georgetown NW rd, Cleveland, TN 37311 | Specialty | 13,029 SF | 1999 | - |
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Downtown Cleveland, TN Storage Portfolio
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