North Mississippi Storage

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$1,500,000

North Mississippi Storage

2.5 Acres

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Description

Key Investment Advantages

25,850 NRSF / 135 Non Climate Controlled Units / 48 Climate Controlled Units / One Office
Phase one consists of 71 non climate controlled units finished in September of 2023 / Phase two consists of 64 non climate controlled units finished in March of 2024 / Phase three consists of 48 climate controlled units finished in April of 2025
Value add in the lease up, below market rents on the new climate controlled building and room for a future expansion
Ability to achieve a 10.41% cap rate at stabilization with a 20.04% cash on cash return
Positioned in a high-demand sector with consistent occupancy trends

Strategic Market Location

Conveniently located just 3 miles (approx. 5-minute drive) from downtown New Albany, MS
Strategic regional positioning to serve: Ripley, Oxford, Pontotoc, Tupelo, Blue Mountain, and surrounding areas
Easy access from major highways: Highway 78 and I-22
Growing residential and commercial presence in the surrounding market

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Location

1106 Wesson Tate Drive, New Albany, MS 38652

Status

For Sale

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Michael Morrison

TITLE

Broker in Charge

LICENSE

SC: 58247 | NC: 283465 | GA: 360061 | AL: 000106088

PHONE

(803) 600-0602

EMAIL

[email protected]

CONTACT AGENT

Property Amenities

Area & Lot

Lot Area 2.5 Acres

Type Other

Status For Sale

Finance

Sales Price $1,500,000

"Ability to achieve a 10.41% cap rate at stabilization with a 20.04% cash on cash return."

— Michael Morrison

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$1,500,000