Investment Overview

Marcus & Millichap is pleased to offer for sale Simply Self Storage (Managed) located in Memphis, Tennessee. The facility consists of 278 climate-controlled units and 329 non-climate-controlled units, totaling 79,490 net rentable square feet. They also offer 19 parking spaces for rent. This is a stabilized cash flowing facility that is currently 93 percent physically occupied. The property is fully fenced with an on-site management office, and 24-hour video surveillance. The location of this facility benefits from an extremely dense and growing surrounding population. There are currently 199,433 people living within a five-mile radius of the facility. The property is located in a busy area and is surrounded by many restaurants, retail stores, Hickory Ridge Mall, schools, residential neighborhoods, and much more. This offers the facility great street frontage and high daily traffic counts of around 32,000 cars per day. Simply Self Storage (Managed) is being offered for $11.5 million or $144.67 per rentable square foot.