10220 Highway 71, Fort Smith, AR 72916
61,945 SF Specialty Building Offered For Sale in Fort Smith, AR 72916
For Sale
Active
- Property Type
-
Specialty
- Square Feet
- 61,945 SF
Listing Contacts
Trey Hammond
Property Overview
Cushman & Wakefield Self Storage Advisory Group has been exclusively retained to offer for sale, the Ft. Smith MSA 2-Property Self-Storage Opportunity - Greenwood and Ft. Smith, AR
The Ft. Smith, AR Self Storage Portfolio represents an opportunity to acquire two newly constructed self-storage facilities in Ft. Smith and Greenwood, AR. Located just 8 miles from one another, the facilities are currently owner-managed with no paid employees on site. Extremely well positioned with frontage on U.S. Highway 71, the facilities feature 482 of climate-controlled and standard storage in addition to 41 newly completed parking spaces on 1.0 acre of land. The opportunity has exceedingly strong historical lease up activity at both locations and provides a buyer the ability to quickly realize double digit returns through rate management on existing customers and
parking lease up.
Both facilities have witnessed exceptional lease-up activity with Greenwood at 89.4% physical occupancy and 50.2% economic occupancy after opening in April of 2023. The current physical and economic occupancies at the Southside location (built in 2020) are 93.4% and 77.2%, respectively. The economic occupancy achieved at Southside directly illustrates the opportunity for rate management on existing
customers at the Greenwood location.
The Greenwood site is located at the junction of Highway 10 and Highway 71. Construction is underway that will more than double the travel capacity of Highway 10 from 2 lanes to 5 lanes by 2026. The expansion will dramatically increase travel volume and curb appeal allowing a buyer to push revenue even higher over the next several years.
The Greenwood Self Storage location is constructed 2.4 acres and is comprised of 90 climate-controlled units and 191 drive-up units. The facility contains 39,575 net rentable square feet covering 323 total units. The Greenwood location comes with an additional 1.0 acre of land including 41 outdoor Boat/RV spaces to be completed before closing.
The Southside Self Storage location, completed in 2020 with 2.0 acres of frontage on U.S. Highway 71, contains 68 climate-controlled units, 83 drive-up units, and 7 parking units. The facility includes 22,370 net rentable square feet covering 159 total units.
The Ft. Smith, AR Self Storage Portfolio represents an opportunity to acquire two newly constructed self-storage facilities in Ft. Smith and Greenwood, AR. Located just 8 miles from one another, the facilities are currently owner-managed with no paid employees on site. Extremely well positioned with frontage on U.S. Highway 71, the facilities feature 482 of climate-controlled and standard storage in addition to 41 newly completed parking spaces on 1.0 acre of land. The opportunity has exceedingly strong historical lease up activity at both locations and provides a buyer the ability to quickly realize double digit returns through rate management on existing customers and
parking lease up.
Both facilities have witnessed exceptional lease-up activity with Greenwood at 89.4% physical occupancy and 50.2% economic occupancy after opening in April of 2023. The current physical and economic occupancies at the Southside location (built in 2020) are 93.4% and 77.2%, respectively. The economic occupancy achieved at Southside directly illustrates the opportunity for rate management on existing
customers at the Greenwood location.
The Greenwood site is located at the junction of Highway 10 and Highway 71. Construction is underway that will more than double the travel capacity of Highway 10 from 2 lanes to 5 lanes by 2026. The expansion will dramatically increase travel volume and curb appeal allowing a buyer to push revenue even higher over the next several years.
The Greenwood Self Storage location is constructed 2.4 acres and is comprised of 90 climate-controlled units and 191 drive-up units. The facility contains 39,575 net rentable square feet covering 323 total units. The Greenwood location comes with an additional 1.0 acre of land including 41 outdoor Boat/RV spaces to be completed before closing.
The Southside Self Storage location, completed in 2020 with 2.0 acres of frontage on U.S. Highway 71, contains 68 climate-controlled units, 83 drive-up units, and 7 parking units. The facility includes 22,370 net rentable square feet covering 159 total units.
Property Details
- Class
- C
- Year Built
- 2023
- Stories
- 1
- Property Subtype
- Self-Storage
- Lot Size (sq. ft)
- 235,224 SF
Highlights
- Newly Constructed Class-A Property 2023/2020
- Exceptional Lease-Up History of 40,000 NRSF Less than 1 Year
- Physical Occupancy 90.6% and Upside with Economic Occupancy at 59.9%
- Gated Access, Video Surveillance, Standing Seam Roofs, Concrete Drives
- Professional Management Upside
- Highway 10 Economic Investment $58 Million
Nearby Properties
FAQ
- How do I add a non-forward facing team member such as a broker coordinator or broker aide to a listing in order to ensure they get notifications on the property?
- Please email our support team at [email protected] and they will add the team member.
- How do I access a private listing?
- Please contact the broker directly with the information provided on the listing. Once the broker approves your credentials he will make the information public to you.
- How can I contact the broker
- We strongly encourage to message the broker through our portal by clicking on the “Envelope” icon next to the brokers photo on the property page. We’ve found brokers response time is much quicker via our messaging portal than phone as brokers are always on the go.
- What is the difference between Tier 1 & Tier 2 in the Due Diligence Vault?
- Documents that are placed in a Tier-1 Due Diligence vault require the execution of a Confidentiality Agreement (“CA”) for access. Documents and folders placed in the Tier-2 vault are intended to have an added layer of security and require the execution of a CA in addition to required Broker approval for access.
- How do I unsubscribe from emails?
- At the footer of each email you will find links to Reduce Email Frequency, Adjust Email Settings or Unsubscribe altogether. If you choose to Unsubscribe and are still receiving emails please reach out to us at [email protected].