188 Halliburton St, Trenton, TN 38382
10,800 SF Specialty Building Offered at $640,000 at a 9.75% Cap Rate in Trenton, TN 38382
For Sale
Active
Asking Price $640,000
- Property Type
-
Specialty
- Square Feet
- 10,800 SF
- Price / Square Foot
- $59
Listing Contacts
Ashley Compton
Property Overview
The Colliers Self Storage Group is pleased to exclusively offer to qualified investors the opportunity to purchase the Halliburton location of Hometown Storage located at 188 Halliburton Road in Trenton, Tennessee. This facility was phase-built between 1990 and 1994 and was completely modernized in May 2023.
Hometown Storage 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, a sliding gate with keypad access, multiple 24-hour video surveillance cameras and abundant security lighting throughout.
Trenton is the county seat for Gibson County and is the fourth-largest city in the area. Gibson County is a northern suburb for Jackson and has a diversified economy that consists of manufacturing, healthcare and retail jobs. The 5-mile population is 7,477 individuals who have an average household income of $57,023. According to Radius, the 5 mile trade area is under-supplied, with just 6.7 square feet of storage per person and just 4.4 square feet of non-climate space.
Offered at $640,000, Hometown Storage - Halliburton is priced at a stabilized 9.75% cap rate and just $59.26 psf. This is a perfect remotely managed facility, allowing an investor to efficiently manage the asset from anywhere. The purchaser of this facility 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.
Hometown Storage 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, a sliding gate with keypad access, multiple 24-hour video surveillance cameras and abundant security lighting throughout.
Trenton is the county seat for Gibson County and is the fourth-largest city in the area. Gibson County is a northern suburb for Jackson and has a diversified economy that consists of manufacturing, healthcare and retail jobs. The 5-mile population is 7,477 individuals who have an average household income of $57,023. According to Radius, the 5 mile trade area is under-supplied, with just 6.7 square feet of storage per person and just 4.4 square feet of non-climate space.
Offered at $640,000, Hometown Storage - Halliburton is priced at a stabilized 9.75% cap rate and just $59.26 psf. This is a perfect remotely managed facility, allowing an investor to efficiently manage the asset from anywhere. The purchaser of this facility 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.
Property Details
- Year Built/Renovated
- 1994/2023
- Stories
- 1
- Property Subtype
- Self-Storage
- Lot Size (sq. ft)
- 45,738 SF
Highlights
- Attractive Price - The asking price of $640,000 is just $59.26 psf and is a stabilized 9.75% cap rate.
- Quality Asset - This facility underwent a full property renovation that was completed in May 2023.
- Under-Supplied Corridor - According to Radius, the total saturation within 5 miles is 6.7 SF per capita, with just 4.4 SF being non-climate space
- Operational Upside - The property is restabilizing since the recent renovation, and the owner has not focused on this location
Nearby Properties
Similar 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].