$11,500,000 | 75,875 SF Self-Storage Investment Opportunity | Memphis, TN

Description

The Colliers Self Storage Group is pleased to exclusively offer to qualified investors the opportunity to purchase an institutional-grade self-storage facility located at 2332 N Germantown Parkway in Cordova, Tennessee.  StrongPoint Self Storage is strategically located just off Interstate 40 in the heart of East Memphis’ bustling commercial corridor.  StrongPoint Self Storage has commanding visibility from Germantown Parkway (30,636 AADT), an eight-lane critical connector road for the communities of Cordova, Germantown, Bartlett and East Memphis.

StrongPoint Self Storage is an investment-grade facility situated on approximately 3.37 acres and consists of a brick-and-block three-story climate-controlled building six covered loading areas.  This facility offers tenants 75,875 rentable square feet and 771 units, ranging in size from 5’x 5’ to 10’x 20’.

Cordova is the primary retail community of the greater Memphis MSA, anchored by the 1.1 million SF Wolfchase Galleria Mall.  The five-mile population is an incredibly dense 165,632 individuals.   That population has grown by 29.2% since 2000.  The housing in the immediate trade area is an impressive 51% renter-occupied units. Even with such a high percent of renters, the average household income within 5 miles of StrongPoint exceeds the national average at $102,743.

StrongPoint Self Storage offers its tenants superior amenities, including a spacious management office, 16 24-hour video surveillance cameras, 6 covered loading areas, courtesy carts, a coded access control system, asphalt drives, LED lights throughout, 2 freight elevators, and full facility security lighting.

Priced at $11,500,000, the purchaser of StrongPoint Self Storage has the opportunity to acquire an institutional quality facility for replacement cost.  This asset benefits from its prime location along one of the most highly trafficked roads in Memphis.  StrongPoint Self Storage will continue its steady physical stabilization and is well-positioned for strong economic performance through aggressive ECRIs for years to come.