Spartanburg Self-Storage, located in Spartanburg, SC and is comprised of 43,022 rentable square feet on approximately 3.56 acres of land. The facility features 437 fully-climate-controlled options, 66 drive-up, 23 parking and one office space for a total of 527 units. The site was built in 1984 and is impeccably located in the heart of Spartanburg, South Carolina. The subject has current physical and economic occupancies of 91 percent and 92 percent, respectively, indicating a strong market for self-storage in one of South Carolina’s largest cities. To ensure secure storage, the property utilizes a state-of-the-art security system and electronic gate code access, in addition to professional REIT management to ensure efficient operations. The site is situated in a thriving division of Spartanburg, with premium access to the area’s most frequented thoroughfares. The facility is located off Cedar Springs Road, which witnesses a traffic count of over 11,000 vehicles daily. Additionally, the site is approximately five miles (driving distance) from South Pine Street, a major roadway with a traffic count exceeding 22,000 vehicles daily. Furthermore, the subject is within proximity to Interstate 26, with a traffic count exceeding 32,000 vehicles daily. The facility is encompassed by several national retailers and major resources within the immediate vicinity, including McDonald’s, Verizon, Walmart, Walgreens, Advance Auto Parts, Domino’s, Subway, KFC, Hardee’s, and Big Lots, among several other popular destinations. The facility benefits from an average household income exceeding $80,000 annually, surpassing the national average. The subject property serves as one of the premier storage options within the immediate trade area. The facility represents an excellent opportunity to acquire an established storage asset in a thriving location of Spartanburg with multiple upsides. The facility will be primed for continued success as the area’s demand for storage remains consistent year over year; the subject’s strong occupancies are indicative of this desirable market. Additionally, an investor can capitalize by bolstering the current tenant insurance program and implementing truck rentals for further profits. The site encompasses the key components for the ideal storage investment with premium amenities, professional management, a centralized downtown location, and a consistent consumer base to ensure success in the current and future market.
- Premium Storage Asset with Multiple Upsides in the Heart of Spartanburg, South Carolina
- Average Household Income Exceeding $80,000 Within Three Miles of the Facility
- Excellent Physical and Economic Occupancies of 91 Percent and 92 Percent, Respectively
- Convenient Access to the Region’s Major Thoroughfares, Including Pine Street and Interstate 26, with Traffic Counts Exceeding 22,000 and 32,000 Vehicles Daily
- Encompassed by a Multitude of National Retailers and Major Resources, Signifying the Area’s Growth
- State-of-the-Art Construction and a Centralized Location with Strong Demographics Comprise the Ideal Storage Investment for Years to Come