$19,900,000 | 123,165 SF | Brookdale Storage | Maryville, TN

Description

The Colliers Self Storage Group is pleased to exclusively offer to qualified investors the opportunity to purchase an institutional quality stabilized self-storage facility located at 207 & 253 Brookdale Road in Maryville, Tennessee.  Brookdale Storage is an investment grade asset that is located along a 5-lane major thoroughfare in an affluent southern suburb of Knoxville, Tennessee.  Brookdale Storage offers tenants 123,165 rentable square feet and 784 storage units, ranging in size from 5’x 5’ to 12’x 40’, as well as 118 RV parking spaces.

Brookdale Storage efficiently operates as one facility, however it is two individual locations separated by less than 500 feet.  The first phase of Brookdale Storage is located at 253 Brookdale and was developed in 2008.   This location sits on approximately 11.96 acres and was phase built until 2016, consisting of nine single-story buildings, and an on-site office that is currently utilized by ownership but could become a revenue generating space. This location could accommodate additional square footage where a portion of the RV parking is located.

The 207 Brookdale location was developed in 2021, providing over 500 feet of frontage along Middlesettlements Road.  This property sits on approximately 5.04 acres and consists of four single-story buildings as well as the storage management office.

Brookdale Storage offers its tenants excellent amenities, including lift gate entrances with key code access, 2 spacious management offices, 20 24-hour video surveillance cameras, RV dump station, abundant landscaping, wide drive aisles and security lighting throughout.

Maryville, Tennessee is situated just 20 miles south of Knoxville, the state’s 3^rd largest city and 127^th largest city in the United States.  The region has flourished with the growth of companies such as Denso Manufacturing Tennessee, Alcoa, University of Tennessee, Oak Ridge National Laboratory and the TVA.  The population of Maryville has rapidly expanded in recent years, with the 5-mile trade area having 76,153 individuals.  The average household income within that same five-mile radius is $83,490.  Maryville is poised for continued growth due to its highly educated workforce and the comparatively low cost of living.

Priced at $19,900,000, Brookdale Storage is priced at an in-place 5.75% cap rate and a Year 2 6.86% cap rate.  The purchaser of this asset will be acquiring an immaculately maintained facility with a strong historical operating performance and also attractive financial upside through adding ancillary income streams.  The area’s thriving population, growing economy, and proximity to major universities and commercial centers make this asset an attractive self-storage investment for years to come.