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Self-Storage Facility

EZ Store & Lock

344 N Egerton Rd, Hendersonville, NC 28792

Listing Price: $1,400,000

Cap Rate
4.10%
Number of Units
184
Occupancy
63.0%
Rentable SF
17,600
Price/Rentable SF
$79.55
Year Built
1985

Investment Overview

Marcus and Millichap is pleased to offer the sale of EZ Store & Lock in Hendersonville, NC. This investment includes 156 non-climate units and 28 Boat and RV parking spaces totaling 17,600 net rentable square feet. Currently, the property sits at 94% occupancy on available units and has new doors ready to be installed for the unavailable units. The site is in high demand and has a waiting list of customers for new unit rentals. Without adjusting rental rates, the new buyer can achieve a 8.4% cap rate by making the units available through door installation.

Investment Highlights

  • Renovated in 2017 with New Paint, Doors, and Roofs on 2 of 3 Buildings
  • 8.4% Cap Rate in Year 1
  • Rental Rates 14% Below Market Average
  • Remotely Managed with Keypad Entry Gate and Online Rentals
  • Over 55,000 People in the 5 Mile Radius
  • 94% Occupied on Available Units with Approximately 50 Unavailable Units Waiting on New Doors or Owner Occupied

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s) NC: 303785

    North Carolina

Financing By

Self-Storage Facility

EZ Store & Lock

Listing Price: $1,400,000

Cap Rate
4.10%
Number of Units
184
Occupancy
63.0%
Rentable SF
17,600
Price/Rentable SF
$79.55
Year Built
1985

Investment Highlights

  • Renovated in 2017 with New Paint, Doors, and Roofs on 2 of 3 Buildings
  • 8.4% Cap Rate in Year 1
  • Rental Rates 14% Below Market Average
  • Remotely Managed with Keypad Entry Gate and Online Rentals
  • Over 55,000 People in the 5 Mile Radius
  • 94% Occupied on Available Units with Approximately 50 Unavailable Units Waiting on New Doors or Owner Occupied

Investment Overview

Marcus and Millichap is pleased to offer the sale of EZ Store & Lock in Hendersonville, NC. This investment includes 156 non-climate units and 28 Boat and RV parking spaces totaling 17,600 net rentable square feet. Currently, the property sits at 94% occupancy on available units and has new doors ready to be installed for the unavailable units. The site is in high demand and has a waiting list of customers for new unit rentals. Without adjusting rental rates, the new buyer can achieve a 8.4% cap rate by making the units available through door installation.

Exclusively Listed By

Broker of Record

  • Benjamin Yelm

    Vice President/Regional Manager

    (704) 831-4600

    License(s): NC: 303785

    North Carolina

Financing By

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