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Self-Storage Facility

Interstate Mini

124 Industrial Dr, White House, TN 37188

Listing Price: $2,150,000

Cap Rate
5.25%
Number of Units
217
Occupancy
82.5%
Gross SF
28,450
Rentable SF
28,450
Price/Rentable SF
$75.57
Year Built
1995

Investment Overview

Marcus and Millichap is pleased to exclusively offer Interstate Mini Storage in White House, TN. Interstate Mini Storage opened for business in 1995 with 104 units. Expansion projects in 1999, 2003 and again in 2015 brought the total number of units to 217; including 167 drive up units, 23 climate control units, 26 parking spaces and a 40 x 40 x 14 foot climate control building with two XXL bay doors. The property is an exceptionally clean and well-maintained facility with energy saving technology such as geo-thermal HVAC system and 100% LED lighting throughout the drive aisles and climate building.

At a price of, $2,150,000, Interstate Mini Storage is a great purchase for the individual owner or a more institutional buyer. Mission Capital Corporation, a Marcus and Millichap subsidiary, enables all qualified buyers to get a 70/30 loan with $450,000 down, a 3.75% interest rate on a 10 year, 30 year Amortization. With a Year 1 cap rate of 7.6% and 11.9% return, the property is positioned to provide consistent cash flows well into the future. The 40 x 40 "warehouse" has two separate fourteen foot high bay doors and can be partitioned off or left as-is; the owners currently use this as car storage and the space it is not currently providing any revenue. The asphalt drive aisles were seal-coated 3 years ago and there is very little, if any, deferred maintenance.

White House TN is booming area of Nashville MSA with multiple townhome, condo and apartment projects ongoing as well as increased investment of nationwide retail firms. The DR Horton "The Parks Community" project to the west of I65 is in process and planned for ~1500 single family homes - Interstate Mini Storage is located in-between these homes and the main area of town.

Investment Highlights

  • Growing population with DR Horton The Parks Community in progress 2.5 miles away
  • Historically high occupancy, low delinquency, stable property
  • Value add opportunity for increased rents and tenant protection plan implementation
  • Energy saving upgrades; LED lighting throughout, Geo-thermal HVAC system
  • 1600 net rentable square foot drive-in, climate control warehouse occupied by owners

Exclusively Listed By

Financing By

Listing Price: $2,150,000

Cap Rate
5.25%
Number of Units
217
Occupancy
82.5%
Gross SF
28,450
Rentable SF
28,450
Price/Rentable SF
$75.57
Year Built
1995

Investment Highlights

  • Growing population with DR Horton The Parks Community in progress 2.5 miles away
  • Historically high occupancy, low delinquency, stable property
  • Value add opportunity for increased rents and tenant protection plan implementation
  • Energy saving upgrades; LED lighting throughout, Geo-thermal HVAC system
  • 1600 net rentable square foot drive-in, climate control warehouse occupied by owners

Investment Overview

Marcus and Millichap is pleased to exclusively offer Interstate Mini Storage in White House, TN. Interstate Mini Storage opened for business in 1995 with 104 units. Expansion projects in 1999, 2003 and again in 2015 brought the total number of units to 217; including 167 drive up units, 23 climate control units, 26 parking spaces and a 40 x 40 x 14 foot climate control building with two XXL bay doors. The property is an exceptionally clean and well-maintained facility with energy saving technology such as geo-thermal HVAC system and 100% LED lighting throughout the drive aisles and climate building.

At a price of, $2,150,000, Interstate Mini Storage is a great purchase for the individual owner or a more institutional buyer. Mission Capital Corporation, a Marcus and Millichap subsidiary, enables all qualified buyers to get a 70/30 loan with $450,000 down, a 3.75% interest rate on a 10 year, 30 year Amortization. With a Year 1 cap rate of 7.6% and 11.9% return, the property is positioned to provide consistent cash flows well into the future. The 40 x 40 "warehouse" has two separate fourteen foot high bay doors and can be partitioned off or left as-is; the owners currently use this as car storage and the space it is not currently providing any revenue. The asphalt drive aisles were seal-coated 3 years ago and there is very little, if any, deferred maintenance.

White House TN is booming area of Nashville MSA with multiple townhome, condo and apartment projects ongoing as well as increased investment of nationwide retail firms. The DR Horton "The Parks Community" project to the west of I65 is in process and planned for ~1500 single family homes - Interstate Mini Storage is located in-between these homes and the main area of town.

Exclusively Listed By

Financing By

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