Investment Overview

Marcus and Millichap is pleased to present Cannon Secure Storage located at 5849 N Commerce Plaza, Jackson, MS 39206. Cannon Secure Storage offers 70 Non-Climate Controlled Units and one onsite apartment within 13,880 Rentable Square Feet. Cannon Secure Storage is 69% physically occupied and 38% economically occupied. This opportunity gives an investor the ability to capitalize on the value by increasing the economic occupancy as well as stabilizing the properties street rates after stabilizing the occupancy. By increasing the occupancy to 86% economic occupancy an investor will be able to achieve a year two 9.98% cash on cash return before pushing any street rates. Cannon Secure Storage is in very close proximity to north state street as well as Beasley Road. North State Street holds a significant importance to Jackson, MS as it serves as a vital artery in the city’s landscape as well as Beasley Road which links major highways and residential neighborhoods, making it an essential route for commuters. Jackson is a major business force in Mississippi, seeing success in high paying industrial operations. Jackson houses four bank headquarters: Consumer National Bank, First American Bank, First Commercial Bank and Trustmark National Bank; Agricultural commodities represent $180 million business; Nearly 500 manufacturers are present in the area including Nissan Motor Co., a $930 million automobile plant, represent some of the major business in Jackson Mississippi. Cannon Secure Storage is being offered at $535,000 or $38.54 per square foot.