511 Old Riceville Rd - Self-Storage Facilities FOR SALE


Athens, TN 37303
$16,180,000 USD
615-850-2774
511 Old Riceville Rd, Athens, TN for Sale
$16,180,000 USD
Self-Storage Facilities - FOR SALE
1/12
null | Request Cap Rate

511 Old Riceville Rd
Athens, TN 37303


HIGHLIGHTS

  • MARKET-DOMINATING PORTFOLIO: Assured Storage of Athens includes a primary facility and four satellite locations, totaling 1,093 units and 133,600 SF
  • The main facility features seven single-story buildings with gated access, 24-hour surveillance, a spacious management office, and well-maintained sec
  • RECENT EXPANSION: 2580 Ingleside Ave, a repurposed college facility, now offers climate controlled storage and 92 boat/RV parking spaces.
  • FUTURE EXPANSION OPPORTUNITIES: The portfolio offers multiple opportunities to further expand the rentable SF beyond the current 133,600 SF
  • Priced at $16,180,000 at a stabilized 7.75% cap rate and just $121.11 PSF, offering both market dominance and future revenue growth opportunities

OVERVIEW

Offering Website: http://www.assuredathensportfolio.com Colliers is pleased to present, exclusively to qualified investors, the opportunity to acquire a market-dominating self-storage portfolio in Athens, Tennessee. Assured Storage of Athens comprises a primary facility at 511 Old Riceville Rd and four satellite locations, totaling 1,093 units and 133,600 SF. The satellite facilities are remotely managed from the Old Riceville property, with the five locations currently maintaining a blended physical occupancy of 70.6%. The Old Riceville facility features seven single-story metal buildings on approximately 2.86 acres. It offers tenants premium amenities, including a gated entrance with keycode access, a spacious management office, multiple 24-hour video surveillance cameras, extensive landscaping, concrete drive aisles, and comprehensive security lighting. 1300 Frye Road, located just 0.2 miles from the Old Riceville facility, was developed in 2018 and consists of three climate-controlled buildings and two non-climate buildings. The facility is situated on 2.86 acres and boasts LED lighting throughout, a full perimeter fence, asphalt drive aisles, prominent signage along Frye Street, and an electric sliding gate with keypad access. 1238 Frye Road, positioned 0.3 miles from Old Riceville, is one of Athens’ original self-storage facilities, developed between 1978 and 1989. This site includes nine block buildings and a pad for a future tenth building. Covering 2.51 acres, it features a full perimeter fence, gravel drive aisles, an on-site management office, and an electric sliding gate with keypad access. 2580 Ingleside Ave, located 3.7 miles from Old Riceville, was formerly Cleveland State Community College. This 16,231 SF building sits on 4.65 acres and has been recently converted into a climate-controlled storage facility with an additional 92 surface parking spaces for boat/RV storage. 2576 Ingleside Ave, adjacent to 2580 Ingleside, consists of six single-story metal buildings with gravel drive aisles on a 3.84-acre parcel. This facility is equipped with a full perimeter fence, adequate security lighting, and an electric sliding gate with keypad access. Offered at $16,180,000, Assured Storage is priced at a stabilized 7.75% cap rate and $121.11 per square foot. This portfolio presents a unique opportunity for immediate market dominance with multiple avenues for future expansion. Investor returns can be further enhanced through a more aggressive revenue management strategy, ensuring these locations remain the premier storage provider in Athens for years to come.

FOR SALE DETAILS

PRICE

$16,180,000 USD

PRICE/SF

$330 USD /SF

CAP RATE

Request Cap Rate

% LEASED

-

TENANCY

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

Assured Storage of Athens Portfolio

PROPERTY TYPE

Specialty

PROPERTY SUBTYPE

Self-Storage Facilities

TOTAL BUILDING SIZE

-

STORIES

1

BUILDING CLASS

C

YEAR BUILT

1995

SPRINKLERS

-

PARKING SPACES

-

LAND DETAILS

LAND ACRES

16.72 AC

LAND SF

728,323 SF

ZONING

-

APN/PARCEL ID

056N-A-016.00

ASK ABOUT THIS PROPERTY

Ashley ComptonColliersMore Info
615-850-2774

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Ashley ComptonColliersMore Info
615-850-2774

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.