Hometown Storage - Medina
37,675 SF Specialty Building Offered at $3,490,000 in Medina, TN 38355
For Sale
Active
- Date Added:
- May 17, 2024
- Days on Market:
- 28 days
Asking Price $3,490,000
- Property Type
-
Specialty
- Square Feet
- 37,675 SF
- Price / Square Foot
- $93
Listing Contacts
Ashley Compton
Verified Profile
- Property Info
Property Overview
Colliers is pleased to exclusively offer to qualified investors the opportunity to purchase Hometown Storage located in Medina, Tennessee. Hometown Storage consist of 2 facilities located .7 miles apart along Highway 45 in an affluent suburb of the Jackson MSA.
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 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 $3,490,000, Hometown Storage - Medina is priced at a stabilized 7.59% cap rate and just $92.63 psf. The purchaser of these assets will benefit from the high visibility locations just .7 miles apart, along with the excellent curb appeal. 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 offering’s value.
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 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 $3,490,000, Hometown Storage - Medina is priced at a stabilized 7.59% cap rate and just $92.63 psf. The purchaser of these assets will benefit from the high visibility locations just .7 miles apart, along with the excellent curb appeal. 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 offering’s value.
Property Details
- Year Built/Renovated
- 1994/2023
- Stories
- 1
- Property Subtype
- Self-Storage
- Lot Size (sq. ft)
- 174,240 SF
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