914 Peach St - U Store Mini Storage
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914 Peach St - U Store Mini Storage
14,231 SF Specialty Building Offered at $725,000 at a 6.34% Cap Rate in Selmer, TN 38375
Executive Summary
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 93 units and 14,231 net rentable square feet. The property is located in McNairy County.
U Store Mini Storage presents a classic value-add opportunity to invest in a property that has significant upside. The property is partially fenced with new gravel drive aisles, includes lighting throughout and a high tech camera Lorex system with remote monitoring capabilities. The facility includes 90 regular drive up storage units, a generous size office with single entrance & secure keypad system and two individual office spaces, a 14x24 unit with drainage installed currently being used as a wash bay and a large 12x50 contractor unit. The 12x50 unit is currently provided free of charge in exchange for landscaping and maintenance services. The handyman also performs lock checks and unit cleanouts. The site has room to add approximately 3,000 net rentable square feet or self storage or portable units. Management of the property has been inconsistent over the last year; current owners have taken over day-to-day operations as of July 2024 with improved results. Priced at $725,000 ($50.95/ft), in-place cash flow covers a 1.25 DCR and with real estate taxes not impacting NOI until 2027, the U Store Mini opportunity provides the investor ample time to take the property to the next level and realize an 11.04% return at stabilization. Contact broker for debt quotes and details.
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
- Competitive Cap Rate with significant management upside
- Office has full security system with entry code pad and key fob ; Single entrance with two office spaces
- 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
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 93 units and 14,231 net rentable square feet. The property is located in McNairy County.
U Store Mini Storage presents a classic value-add opportunity to invest in a property that has significant upside. The property is partially fenced with new gravel drive aisles, includes lighting throughout and a high tech camera Lorex system with remote monitoring capabilities. The facility includes 90 regular drive up storage units, a generous size office with single entrance & secure keypad system and two individual office spaces, a 14x24 unit with drainage installed currently being used as a wash bay and a large 12x50 contractor unit. The 12x50 unit is currently provided free of charge in exchange for landscaping and maintenance services. The handyman also performs lock checks and unit cleanouts. The site has room to add approximately 3,000 net rentable square feet or self storage or portable units. Management of the property has been inconsistent over the last year; current owners have taken over day-to-day operations as of July 2024 with improved results. Priced at $725,000 ($50.95/ft), in-place cash flow covers a 1.25 DCR and with real estate taxes not impacting NOI until 2027, the U Store Mini opportunity provides the investor ample time to take the property to the next level and realize an 11.04% return at stabilization. Contact broker for debt quotes and details.
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
- Competitive Cap Rate with significant management upside
- Office has full security system with entry code pad and key fob ; Single entrance with two office spaces
- 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
Property Facts
| Price | $725,000 | Property Subtype | Self-Storage |
| Price Per SF | $51 | Lot Size | 2.33 AC |
| Sale Type | Investment or Owner User | Building Size | 14,231 SF |
| Cap Rate | 6.34% | No. Stories | 1 |
| Property Type | Specialty | Year Built/Renovated | 1997/2004 |
| Price | $725,000 |
| Price Per SF | $51 |
| Sale Type | Investment or Owner User |
| Cap Rate | 6.34% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Lot Size | 2.33 AC |
| Building Size | 14,231 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1997/2004 |
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PROPERTY TAXES
| Parcel Number | 080J-D-002.03 | Improvements Assessment | $24,600 |
| Land Assessment | $5,720 | Total Assessment | $30,320 |
PROPERTY TAXES
Parcel Number
080J-D-002.03
Land Assessment
$5,720
Improvements Assessment
$24,600
Total Assessment
$30,320
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914 Peach St - U Store Mini Storage
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