investment highlights
- RECENTLY EXPANDED // In late 2023, the property was expanded adding over 33,000 net rentable square feet and 222 units. The expansion added climate controlled and RV units to match market demand.
- LEASE UP OPPORTUNITY // The facility has continued lease-up without dramatically cutting rates. A more aggressive rate strategy should spark leasing activity, allowing the new owner to push occupancy and then rates.
- STRONG DEMOGRAPHICS // The five-mile radius has a population of 99,257 and is projected to grow 8.6 percent in the next five years. The current median household income is $66,642 with 36,161 households.
- GREAT LOCATION AND VISIBILITY // The property is located near a newly completed 308-unit apartment home, 101 Depot, and the Olde Towne Village Mobile Home Community. Major retailers and employers include Publix, Kroger, Home Depot, Lowes, and TriStar Stone Crest Medical. Highly visible from Enon Springs Road and Lowry Street that combine for over 34,000 passing vehicles per day.
- NEW RESIDENTIAL DEVELOPMENT // The property shares a property line with a newly proposed townhome project. The townhome project will feature 40+ townhomes in the vacant field just West of Smyrna Storage Center.
property summary
Smyrna Storage Center is a 336-unit, 49,810 net rentable square foot self-storage facility located in Smyrna, Tennessee. The property sits on around 3.67 acres of land, was initially constructed in 1996 and was expanded in 2023. It contains six single-story self-storage buildings with 202 drive-up units.
Smyrna Storage Center has many amenities including electronic gated entry with a digital keypad, large institutional-style leasing office with retail and security monitor display, 24/7 video surveillance throughout the facility, concrete driveways, and metal roll-up doors throughout.
The facility is centrally located in Smyrna with excellent visibility from Highway 41 and over 24,640 passing vehicles per day. There are major drivers in the immediate area such as Harbor Freight Tools, Wendy’s, Family Dollar, Little Caesar’s Pizza, AutoZone, and Sherwin Williams to name a few.
