Centre Self Storage | 152 Units | 100% Occupied | 6.2% Cap Rate
1650 E Bypass
Centre, AL 35960
Highlights
- Strong occupancy history
- Expansion possible
- Estimated cost for expansion $294,000
- Security cameras at entrance and throughout property
- Fully-gated site with key card only access
- Traffic counts on E Bypass exceed 6,000 VPD
- Alabama License #: 000083871-0
Description
Opportunity to acquire a 100% occupied, value-add self-storage center. The strong occupancy history suggests rents may be under market. The site has the land, demand and zoning to add an additional approved 6,600 SF, or forty-four 10x15 units.
Located less than 3 miles from Weiss Lake, the property is well-positioned for lake goers needing storage for fishing and camping equipment. The lake is also known as the “Crappie Capital of the World” and sells more out-of-state fishing licenses than any other lake in Alabama, according to the lake’s website.
The economy in Centre is diverse with a mix of businesses servicing both residents and visitors. Given its proximity to Weiss Lake, tourism and outdoor activities are important contributors to the local economy.
Centre, AL
