L&D Self Storage

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Deal Highlights

Located along NC-54/Chapel Hill Road in an area witnessing high population growth, acquisition of L&D Self Storage offers an investor the potential to substantially raise rates at a 97%-physically occupied facility in a self-storage desert.

  • Significant Opportunity to Increase Revenue; Rental Rates are Currently 40 Percent Below the Market’s Average
  • Ability to Raise the Facility’s Economic Occupancy
  • Nearly-Full Physical Occupancy of 97 Percent, Justifying the Need to Raise Rates with Tenants Paying Below Market
  • Prominently Situated Along NC-54/Chapel Hill Road, a Major Thoroughfare in Morrisville, Providing Excellent Visibility
  • NC-54/Chapel Hill Road’s Expansion Commences in 2021 to Create Additional Lanes to Compliment the Rising Population
  • Strong Population Growth of 4.67 Percent in a One-Mile Radius
  • Boasts a High Average Median Income of Over $105,000 in a Five-Mile Radius
  • No Future Planned Developments Within Three Miles of the Site; There is a Moratorium in Place for the Three Miles Preventing Additional Competition and Creating a Self-Storage Desert
  • Morrisville Plans to Rezone the Immediate Area, Which Will Migrate the Site into the Middle of a High-Density Urban Center with High-Rise Buildings and a Light Rail Across from the Facility

Address

10802 Chapel Hill Road, Morrisville, NC 27560

Price

TBD by Market

Pro Forma NOI

$494,552

Net Rentable Square Feet
48,568 NRSF
Lot Size

3.11

Unit Count
251
Year Built
1985
Status

Under Contract

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