Investment Overview

Marcus & Millichap is pleased to exclusively offer for sale Jackson Self Storage in Jackson, Mississippi the state capital of Mississippi. Consisting of 58,640 net rentable square feet on 3.46 acres, the facility is composed of 489 non-climate control units ranging from 25 square feet to 300 square feet. Included in the sale and situated immediately next door is a 4,670 square foot building which could be leased to a retail tenant or converted to climate controlled self-storage. The immediate trade area only has 0.96 and 7.26 net rentable square feet per capita of climate control and non-climate control storage, respectively. Based on the trailing five months, economic occupancy is approximately 68 percent, allowing an investor to benefit from the continuation of lease-up activity combined with rental rate growth across multiple unit types and size. Currently, the property’s rents are on average 22 percent below the competition. Recent management changes are in process to boost occupancy and to cut the existing high operating expenses. The facility is fully fenced, gated and lighted for safety and has a manager’s residence onsite. There is creative seller financing available to qualified buyers with 30 percent down at a below market interest rate of 5.25 percent and potential interest only period. Please contact listing agent for details. Jackson Self Storage is located in Hinds County on US Highway 80, with an average daily traffic count of 21,000 vehicles. The facility is situated near two major thoroughfares US Highway 20 which runs east and west from Texas to South Carolina and Interstate 55 which runs north and south from Illinois through Louisiana. The subject facility is within close proximity to several residential zones, schools and national-retailers. Jackson State University is located 1.8 miles with a total undergraduate enrollment of 4,650. The 2022 estimated population was 108,000 within a 5-mile radius of the facility. Jackson is the largest city in Mississippi and the anchor for the Jackson MSA.