Modbox Storage 2 Property Portfolio
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Modbox Storage 2 Property Portfolio
2 Specialty Properties in Multiple Locations
Investment Highlights
- Impressive Occupancy: 82.9% Portfolio Average Physical Occupancy (April 24, 2024)
- Huge Management Upside on Raising Street Rents to Market Rates: Subject Property Street Rate on a 10X10 CC 1st Floor is $62
- Growing Residential Market: 6,067 Combined Future Residential Units in Development Pipeline (5-Mile Radius)
- Recently Built/Renovated Facilities: Subject Property Build/Renovation Years Ranging from 2020 to 2021
Executive Summary
View Offering Memorandum and Due Diligence: https://selfstorageadvisory.com/properties/modbox-storage-2-property-portfolio/
Offered in upper North Carolina, this portfolio presents a unique opportunity for an investor to acquire two self-storage facilities located in the Piedmont Triad Region. The ModBox Storage 2 Portfolio features a combined 1,209 units spread across a combined 127,926 net rentable square feet of self-storage situated on a combined 11.3 acres of land. The facilities offer ground level drive up units, interior climate controlled units and parking spaces, along with valuable amenities including monthly leases, and online bill pay. bill pay.
ModBox Storage - High Point has potential upside from adding more covered and uncovered RV and boat parking along with an unused parking lot and the option to add portable units outside of the north side of the building. The facility is located 2.7 miles from High Point University with a total enrollment of more than 6,000 students.
ModBox Storage - Arrowhead is just 2 exits away from what will be the first Buc-ee’s mega gas station travel center in North Carolina. The future local Buc-ee’s will be 70k SF, with construction already underway.
The Piedmont Triad is a 12 county region that is a hub for commerce with Piedmont Triad International Airport located in the center. Interstates 40, 77 and 85 run through the area along with Interstates 73 and 74 already completed in most areas and finishing construction in others.
The ModBox Storage 2 Portfolio offers a combined traffic count of 149,000 vehicles per day passing by the properties. The facilities offer stable occupancy, with a portfolio average occupancy of 78.8% as of March 11, 2024. The portfolio average 3-5 mile household income ranges from $91,227 to $90,479 with a combined 6,067 future residential units in the development pipeline within a 5-mile radius of both properties.
Morgan Windbiel/ CBRE, Inc.
NC Lic. 334570
Offered in upper North Carolina, this portfolio presents a unique opportunity for an investor to acquire two self-storage facilities located in the Piedmont Triad Region. The ModBox Storage 2 Portfolio features a combined 1,209 units spread across a combined 127,926 net rentable square feet of self-storage situated on a combined 11.3 acres of land. The facilities offer ground level drive up units, interior climate controlled units and parking spaces, along with valuable amenities including monthly leases, and online bill pay. bill pay.
ModBox Storage - High Point has potential upside from adding more covered and uncovered RV and boat parking along with an unused parking lot and the option to add portable units outside of the north side of the building. The facility is located 2.7 miles from High Point University with a total enrollment of more than 6,000 students.
ModBox Storage - Arrowhead is just 2 exits away from what will be the first Buc-ee’s mega gas station travel center in North Carolina. The future local Buc-ee’s will be 70k SF, with construction already underway.
The Piedmont Triad is a 12 county region that is a hub for commerce with Piedmont Triad International Airport located in the center. Interstates 40, 77 and 85 run through the area along with Interstates 73 and 74 already completed in most areas and finishing construction in others.
The ModBox Storage 2 Portfolio offers a combined traffic count of 149,000 vehicles per day passing by the properties. The facilities offer stable occupancy, with a portfolio average occupancy of 78.8% as of March 11, 2024. The portfolio average 3-5 mile household income ranges from $91,227 to $90,479 with a combined 6,067 future residential units in the development pipeline within a 5-mile radius of both properties.
Morgan Windbiel/ CBRE, Inc.
NC Lic. 334570
Property Facts
| Sale Type | Investment | Individually For Sale | 0 |
| Status | Active | Total Building Size | 158,425 SF |
| Number of Properties | 2 | Total Land Area | 11.30 AC |
| Sale Type | Investment |
| Status | Active |
| Number of Properties | 2 |
| Individually For Sale | 0 |
| Total Building Size | 158,425 SF |
| Total Land Area | 11.30 AC |
Properties
| Property Name / Address | Property Type | Size | Year Built | Individual Price |
|---|---|---|---|---|
| 1925 Eastchester Dr, High Point, NC 27265 | Specialty | 95,000 SF | 2022 | - |
| 4550 Arrowhead Blvd, Mebane, NC 27302 | Specialty | 63,425 SF | 2021 | - |
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Power Broker Nicholas Walker -
CBRE, Inc.
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Modbox Storage 2 Property Portfolio
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