$2,500,000 | Assured Storage, Decatur, AL | 27,332 SF

Description

The Colliers Self Storage Group is pleased to exclusively offer to qualified investors the opportunity to purchase Assured Storage of Decatur located at 2214 Beltline Rd SW in Decatur, Alabama.  This location opened in 1978 and was completely renovated in 2018.   There are five single-story buildings constructed with structural steel framing.  Sitting on approximately 1.9 acres, the facility consists of 27,332 rentable square feet and 246 units.  This facility directly benefits from the superior visibility from Beltline Rd SW (36,231 AADT).

Decatur is home to 12 Fortune 500 Companies and is a primary transportation hub for Alabama.  Both CSX and Norfolk -Southern operate rails through the city, and one of the largest barge terminals in the United States is located along the Tennessee River in Decatur.  This 5-mile radius boasts a population of 61,652 individuals and those individuals have an average household income of $73,945.  Yardi calculates the 5-mile saturation as 9.93 square feet per person.

Assured Storage – Decatur offers its tenants excellent amenities that include an on-site management office, access control gate with keypad entry, numerous 24-hour surveillance cameras, full perimeter security fence, and security lighting throughout.  These amenities as well as the high-traffic location help this facility maintain a market leader position.

This asset is being offered for $2,500,000, which is just $91.47 psf and a Year 1 7.00% cap rate.  Assured Storage of Decatur is a perfect candidate to be an unmanned storage facility, which would allow for a sizeable reduction of the current $55k payroll.  The purchaser of this asset will financially benefit from the highly financeable in-place income stream while also having tremendous future upside through implementing a more robust revenue management program.