A Storage Spot

A Storage Spot2019-10-07T12:50:21-04:00

Project Description

The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale A Storage Spot, located in Cleveland, GA.

$960,000
NRSF – 17,414

5389 Hwy 115 W
Cleveland, GA 30528

A Storage Spot, located in Cleveland, Georgia, is comprised of 17,414 rentable square feet on approximately 2.67 acres of land. The facility was built in 2006 and is composed of 61 climate controlled units and 67 non-climate controlled units, for a total of 128 units ranging from 50 square feet to 300 square feet. The subject has current physical and economic occupancies of 93.1 percent and 93.5 percent respectively, which are indicative of the high demand for self-storage within the region. The property offers gated keypad entry and perimeter-wide fencing for added security. There is additional land on the site that allows for expansion of additional storage or boat/RV parking.

Situated South of downtown Cleveland, A Storage Spot is located at 5389 Hwy 115 in Cleveland GA. Since 2010, Cleveland has seen a 16.2 percent population growth. In addition, future job growth over the next ten years is predicted to be 68.8 percent, which is higher than the US at 33.5 percent, according to Bestplaces.net. Cleveland is the seat of White County, which has witnessed a total population growth of 7.6 percent since, respectfully. Within a three-mile radius of the self-storage site, there are presently 4,415 individuals among 1,599 households.

A Storage Spot offers multiple upsides in the growing area of Cleveland. By being the only storage facility in a three-mile radius, the NRSF / person ratio is extremely low, at a 3.9 compared to national average indicating the desire for additional storage. An investor can acquire a stabilized facility primed for addition opportunity through expansion. The facility has forward looking financials with cash-on-cash returns of 16.5 percent and 20.9 percent in years one and two. Furthermore, this site has the opportunity to increase efficiencies and visibility through the implementation of professional management and a digital presence.

Investment Highlights:

  • 93.1 Percent Physically Occupied
  • 93.5 Percent Economically Occupied
  • Year One Cash-on-Cash Return of 16.5 Percent
  • Year Two Cash-on-Cash Return of 20.9 Percent
  • Only Facility in a Three-Mile Radius with a Supply NRSF of 3.9 Per Capita
  • Expansion and Conversion Potential
  • Recently Replaced A/C Units and Repaired Keypad Systems
  • Sign CA to View Offering Memorandum

  • Confidentiality and Buyer Registration Agreement

    Cushman & Wakefield U.S., Inc. ("Broker") has been retained as the exclusive advisor and broker regarding the sale of the property known as A Storage Spot.

    To receive an Offering Memorandum ("Offering Memorandum") please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall be relied on as a promise or representation as to the future performance of the property. Although the information contained herein is believed to be correct, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

    By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney's fees, collectively "Claims") arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

    By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Cushman & Wakefield, must be compensated by Buyer as Cushman & Wakefield is not cooperating on fees. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property's Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney's fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker's fees or finder's fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

    The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller's obligation thereunder have been satisfied or waived.

    The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

    No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.