Investment Overview

Marcus & Millichap is pleased to present Make Space Storage located at 1321 MS-42, Petal, MS 39465. Make Space Storage offers 282 climate-controlled units within 38,950 net rentable square feet. Make Space Storage is a class A facility that offers brand new 24-hour digital surveillance that can be monitored remotely, the facility is fully paved with extra wide drive isles for the drive-up climate-controlled units, enjoys Noke smart locks and Noke entry app and offers gated entry and exit. Make Space Storage currently has onsite management housed in a 700 square foot beautiful office. This office comes with 700 square feet of upstairs unfinished space that is currently being used as office storage. Opening its doors in July 2022 the facility experienced an excellent lease up achieving 37% physical occupancy in just six months, reaching 61% physical occupancy by December 2023 and sits currently at 82% physical occupancy and 77% economic occupancy. Make Space Storage is located directly off of Highway 42, just 0.8 miles from Petal High School, with an excellent traffic count and visibility. Highway 42 serves as a primary means of transportation for both local residents and visitors passing through the area. The presence of Highway 42 has influenced the cities infrastructure development housing numerous businesses and commercial establishments. Petal MS is located in Forrest County and it is approximately 10 miles northeast of Hattiesburg, MS which is the largest city in southern MS. Forrest County MS has experienced steady population growth and is a regional economic hub, hosting several major employers and industries and is also the home to Southern Mississippi University which is located just 10.7 miles from Make Space Storage. Make Space Storage is being offered at $5,200,000 or $133 per net rentable square feet for a class A all climate-controlled facility built in 2022.