4089 Clifton Glendale Rd Spartanburg, SC 29307

This exceptional Class A self-storage facility, located at 4089 Clifton Glendale Rd, Spartanburg, SC 29307, presents a compelling value-add investment opportunity. The property, a newly renovated (2023) single-story building on an 8.67-acre lot, comprises 31,000 net rentable square feet and features 264 climate-controlled units. Currently at 1% occupancy (as of January 1, 2024), the property boasts significant upside potential. The asking price is $4,500,000, translating to $145.12 per square foot and $17,045.45 per unit. The current NOI is $111,371, with a projected NOI of $354,808 upon stabilization, yielding a pro-forma cap rate of 7.88%. The property benefits from a gross lease structure and offers substantial room for expansion, allowing for the addition of traditional or climate-controlled units (buyer to verify). Spartanburg's designation as one of the fastest-growing metro areas in the US, coupled with its diverse amenities and thriving community, ensures strong long-term growth prospects. The facility includes amenities such as digital keypad gate entry, security cameras, exterior lighting, an office, and fencing. The 8-foot ceiling height adds to the functionality of the units. This fee-simple ownership opportunity is ideal for investors seeking significant returns in a rapidly expanding market. The property's current low occupancy presents a unique chance to increase rental rates and maximize profitability.