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.
- 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