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Self-Storage Facility

565 Boat & RV Storage

29891 Old Hwy 20, Madison, AL 35756

Listing Price: $5,400,000

Cap Rate
4.72%
Number of Units
149
Occupancy
90.4%
Gross SF
84,592
Rentable SF
84,592
Price/Rentable SF
$63.84
Year Built
2019

Investment Overview

Marcus & Millichap is pleased to present 565 Boat and RV Storage in Madison, Alabama. The facility features 79,592 rentable square feet with 149 units. The mix is made up of four 20x50 climate-controlled units, 61 20x50 enclosed RV units, 32 covered parking spots and outside parking. The outside parking is not included in the rentable square feet. Constructed in 2019, the facility reached 91 percent occupancy in a little over a year. Operational improvements can be made by enforcing market rents, converting some units to office/warehouse space, marketing and advertising. The seller is not in the warehouse business, aside from this investment which was his first venture in this space.

This property is part of the high growth market of Huntsville, Alabama. New commercial and residential developments, job growth and job creation continue driving this market. One of the more recent announcements is that Redstone Arsenal was selected as the preferred location for the U.S. Space Command Headquarters which is a huge win for the state of Alabama. Some of the more well know businesses in the area are Adtran, Deltacom, Line X, Amtec, Google, Toyota-Mazda and Facebook to name a few. This property is located down the road from the Mazda Toyota Manufacturing facility, 84 Lumber, Sundrop Bottling company and FedEx distribution.

Investment Highlights

  • 2019 Construction
  • 61 20x50 Enclosed RV Units
  • 32 Covered Parking Spots
  • Abundance of Outside Parking
  • Below Market Rents

Exclusively Listed By

Self-Storage Facility

565 Boat & RV Storage

Listing Price: $5,400,000

Cap Rate
4.72%
Number of Units
149
Occupancy
90.4%
Gross SF
84,592
Rentable SF
84,592
Price/Rentable SF
$63.84
Year Built
2019

Investment Highlights

  • 2019 Construction
  • 61 20x50 Enclosed RV Units
  • 32 Covered Parking Spots
  • Abundance of Outside Parking
  • Below Market Rents

Investment Overview

Marcus & Millichap is pleased to present 565 Boat and RV Storage in Madison, Alabama. The facility features 79,592 rentable square feet with 149 units. The mix is made up of four 20x50 climate-controlled units, 61 20x50 enclosed RV units, 32 covered parking spots and outside parking. The outside parking is not included in the rentable square feet. Constructed in 2019, the facility reached 91 percent occupancy in a little over a year. Operational improvements can be made by enforcing market rents, converting some units to office/warehouse space, marketing and advertising. The seller is not in the warehouse business, aside from this investment which was his first venture in this space.

This property is part of the high growth market of Huntsville, Alabama. New commercial and residential developments, job growth and job creation continue driving this market. One of the more recent announcements is that Redstone Arsenal was selected as the preferred location for the U.S. Space Command Headquarters which is a huge win for the state of Alabama. Some of the more well know businesses in the area are Adtran, Deltacom, Line X, Amtec, Google, Toyota-Mazda and Facebook to name a few. This property is located down the road from the Mazda Toyota Manufacturing facility, 84 Lumber, Sundrop Bottling company and FedEx distribution.

Exclusively Listed By

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