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412 Park Avenue, Kinston, NC, 28501

Self-Storage Brothers Portfolio
$6,600,000

Key Information

Cap Rate
5.93%
Tot. SF
86,317
Lot Size
6.55 Acres
Units
606
Year Built
2024
Type
Self Storage
Occupancy
57%
NOI
$391,366

Highlights

  • Value-Add Opportunity: Lease up potential with current portfolio occupancy at 57%.
  • Attractive Returns: Day-one returns with significant upside remaining for investors.
  • High Traffic Exposure: Combined traffic counts of 58,000 vehicles per day across the three sites.
  • Below Market Rents: In-place rents are below market with room to push rents at stabilization.
  • Expansion Opportunity: Expansion land included in the sale for future growth.
  • Favorable Basis: Very favorable basis, especially given the amount of climate controlled storage included.
  • Recent Facility Opening: Kinston is a recently opened facility, while the Ayden locations are stabilized.

 

Photos

Location

Agents

Broker of Record

Gerard Hamas

License # 362768, C42113 (NC)
Matthews Real Estate Investment Services, LLC
1600 West End Ave., Ste. 1500 Nashville, TN 37203