$9,190,000 | 68,813 SF | Assured Storage | Charleston, SC

Description

The Colliers Self Storage Group is pleased to exclusively offer to qualified investors the opportunity to purchase an institutional quality self-storage facility located at 2455 Ashley River Road in Charleston, South Carolina.  Assured Storage of Charleston is an investment grade asset that is located along a highly trafficked thoroughfare in the West Ashley district of Charleston.  This asset consists of twelve single-story drive-up buildings, a single-story brick retail building as well as nine portable storage buildings.  Sitting on approximately 3.99 acres, this facility offers tenants 61,630 RSF of self-storage and 7,183 sf of retail.

West Ashley, South Carolina is a vibrant Charleston community that combines the area’s historic charm with the conveniences of modern living.  Charleston has a robust economy driven by major employers such as Joint Base Charleston, Medical University of SC, The Boeing Company, Robert Bosch, and Mercedes-Benz Vans.  The population of Charleston has rapidly expanded in recent years, with the 5-mile trade area having 125,871 individuals.  The average household income within that same five-mile radius is $101,246.  Charleston is poised for continued growth due to its highly educated workforce and the comparatively low cost of living.

Priced at $9,190,000, Assured Storage is priced at a stabilized 7.00% cap rate and just $133.55 psf.  The purchaser of this asset will be acquiring an immaculately maintained facility with a strong historical operating performance and also attractive financial upside through more effective revenue management techniques.  The seller had not been renewing retail leases and intended on converting the retail building into additional climate-controlled units once vacant.  The purchaser could continue this strategy, easily re-tenant as retail, or utilize the land for a larger multi-story development.  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.