Self-Storage Facility
Palmetto State Mini Storage
2321 S Lake Dr, Lexington, SC 29073
Listing Price: $3,600,000
Investment Overview
The Gorman Group of Marcus & Millichap is pleased to offer for sale Palmetto State Mini Storage, a well-positioned self-storage asset located in Lexington, South Carolina. The property features 285 self-storage units and 49 parking spaces, providing immediate in-place cash flow with operational upside. Additionally, the offering includes approximately 4.5 acres of excess land for future development, presenting a unique value-add opportunity in a growing market. The seller is also offering attractive seller financing at a below-market 4.5% interest rate, enhancing overall investment returns and providing flexible acquisition terms.
Listing Price: $3,600,000
Investment Highlights
- 6.4% in Place Cap Rate
- Seller Financing- 4.5% IR- Interest only FULL TERM
- Over 10% cash on Cash return going in
- High Growth Market
- Median HH Income over $75k
- Over 20k VPD on S Lake Drive
Investment Overview
The Gorman Group of Marcus & Millichap is pleased to offer for sale Palmetto State Mini Storage, a well-positioned self-storage asset located in Lexington, South Carolina. The property features 285 self-storage units and 49 parking spaces, providing immediate in-place cash flow with operational upside. Additionally, the offering includes approximately 4.5 acres of excess land for future development, presenting a unique value-add opportunity in a growing market. The seller is also offering attractive seller financing at a below-market 4.5% interest rate, enhancing overall investment returns and providing flexible acquisition terms.
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