For Sale
$5,000,000

1529 Highway 11ENew Market, TN 37820

Self Storage Facility, High Occupancy

Overview

Added:
Dec 11, 2024
Days on market:
114
This exceptional self-storage facility in New Market, Tennessee, presents a compelling investment opportunity. Priced at $5,000,000, it boasts a 6.97% pro-forma cap rate and a $348,500 pro-forma NOI. The property comprises 13 buildings on a 5-acre lot, featuring a total of 318 units, including recently added and soon-to-be-added units. Construction dates range from 2001 to 2024, with 85 more units slated for completion in Summer 2024. Currently, the occupancy rate stands at 95%. The facility benefits from a highly visible, centrally located position, just a short distance from Knoxville and Jefferson City. Features include an excellent unit mix, low operating expenses, and easy remote management capabilities. Recent improvements encompass new fencing, landscaping, and exterior lighting. The property also offers ample outdoor storage for RVs, boats, and campers. This is a turnkey operation with significant potential for future growth and expansion. The property's strong performance and strategic location make it an attractive investment for discerning buyers.

Highlights

  • $5,000,000 Asking Price for this self-storage facility.
  • 6.97% Pro-Forma Cap Rate, generating a $348,500 Pro-Forma NOI.
  • 318 Units across 13 buildings on a 5-acre lot.
  • Conveniently located in New Market, TN, offering excellent visibility and expansion potential.
  • Strong unit mix with recently added units and future expansion planned.
  • Low operating expenses and easily remotely managed.

Property Details for 1529 Highway 11E

Property type
Self storage facilities
Year Built
2001
Buildings
13
Stories
1
Lot Size (sq. ft)
217,800 SF
Units
318

Location Insight

City
New Market
County
Jefferson
State
Tennessee
Latitude
36.08972669
Longitude
-83.58978876
1529 Highway 11E, New Market, Tennessee

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1529 Highway 11E
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