$8,710,000 | Hometown Storage Portfolio | Medina TN

Description

The Colliers Self Storage Group is pleased to exclusively offer to qualified investors the opportunity to purchase the Hometown Storage Portfolio located in Trenton and Medina, Tennessee.  Hometown Storage consist of 4 facilities located within 15 minutes of each other in the affluent suburbs of the Jackson MSA.  This portfolio.

Hometown Storage – Trenton has been phase built since 2014 and consists of five single-story buildings with brick facades and metal interior partitions.   Sitting on approximately 3.35 acres, this facility offers tenants 44,700 rentable square feet and 322 units.  This facility offers a spacious management office, 17 24-hour video surveillance cameras, concrete drive aisles, full facility fencing with sliding gate, and security lighting throughout.   This location includes land for future expansion along the right side of the parcel.

The Trenton North location is operated as a satellite and consists of three single-story metal buildings totaling 10,800 rentable square feet spread between 60 units.  This facility sits on approximately 1.05 acres and offers tenants wide asphalt drive aisles, sliding gate with keypad access, multiple 24-hour video surveillance cameras and abundant security lighting throughout.  Trenton North was originally built in 1990 but was completely renovated in May 2023.

The Medina North location has significant frontage along Highway 45 Bypass and consists of 18,100 rentable square feet and 135 units.  This facility sits on approximately 1.88 acres and has five single-story metal buildings with brick facades.  This location has been phase built since 2014 and offers its tenants excellent amenities, including a access controlled climate control units, a spacious management office, numerous 24-hour video surveillance cameras, and concrete drive aisles.

Hometown Storage – Medina Sonic is a 19,575 square foot facility that has been phase built since 1994 but was completely renovated and expanded in 2023.  This location sits on approximately 2.12 acres and consists of 5 single story metal buildings with brick facades.  This facility offers tenants enhanced security with a sliding gate and keypad access, abundant security lighting, numerous security cameras, and wide asphalt drive aisles.

Offered at $8,710,000, the Hometown Storage Portfolio is priced at a stabilized 7.75% cap rate and just $93.48 psf.  The purchaser of this portfolio will benefit from having almost 100k sf within a 15-minute drivetime at close to replacement cost.  A focus on growing the ancillary revenue streams, such as tenant insurance, POS, as well as enhanced revenue management will have a substantial impact on this portfolio’s value.