Investment Overview

Marcus & Millichap is pleased to present Augusta Highway Self Storage, a 153-unit, 20,206 net rentable square foot self-storage facility situated on 1.59 acres in Lexington, South Carolina. The property is offered at $1,700,000, representing a 6.6% cap rate on current net operating income of $112,117. Seller financing is available. The facility is currently 90.6% physically occupied and features a diverse unit mix of drive-up, interior non-climate-controlled, and climate-controlled storage, catering to both residential and small-business tenants. Additional revenue is generated through a billboard lease and ice sales, providing diversified income streams beyond traditional storage operations. With strong in-place occupancy and existing cash flow, the property offers investors an opportunity to acquire a stable, income-producing asset with upside potential. Significant value-add opportunities remain through rental rate optimization and ancillary income growth. Drive-up and interior 10x15 and 10x20 units are currently priced approximately 13% below competing facilities on a per-square-foot basis. Additionally, tenant insurance penetration remains minimal, presenting another opportunity to increase revenue. Strategically located along Augusta Highway, which carries more than 15,000 vehicles per day, the property benefits from its position in one of the fastest-growing areas of the Columbia MSA. The population within a five-mile radius has increased 53% since 2010 and is projected to grow an additional 6% by 2030. Average household income within the same radius exceeds $131,000. Nearby development includes the Target-anchored Victory Village, a proposed Walmart, and several new single-family residential subdivisions, further supporting the area's continued growth and long-term demand for self-storage.