603 Thornhill Dr Hattiesburg, MS 39402

This exceptional value-add self storage facility in Hattiesburg, Mississippi, presents a compelling investment opportunity. Priced at $1,845,000, this property boasts 43,650 net rentable square feet across four single-story buildings on a 3-acre lot. Currently featuring 247 non-climate controlled, drive-up units and a 1,200 square foot apartment, the facility offers significant upside potential. The current NOI is $80,992, yielding a 4.39% cap rate, while the pro-forma NOI is projected at $201,964, representing a 10.95% cap rate. Built in 1980, this property benefits from its location less than one mile from the University of Southern Mississippi (enrollment: 14,554 students) and within a densely populated area (67,878 residents within a five-mile radius). Hattiesburg, the third largest MSA in Mississippi (155,740 residents), is approximately 85 miles northwest of Mobile, Alabama. This property offers a unique chance to increase revenue through lease-up, stabilization, and rent increases, capitalizing on below-market rents in a thriving market. The property's address is 603 Thornhill Dr, Hattiesburg, MS 39402.