Located in the heart of Springdale, AR, Gray Box Storage is an existing 7,500 SF self-storage facility that sits on one acre and has maintained >99% capacity in recent years. With 40 rentable units and up to 10 outdoor parking spaces, annual gross revenues are over $36,000 and with minimal operating expenses (remote, contactless facility) arrive an an NOI over $27,000 annually. This as-is facility is valued at $450,000 (assuming 6% cap rate).
Development/Expansion Opportunity ($450,000)
Site plans approved and development ready to begin:
Less than one mile away from the existing facility (which is at-capacity, with waitlist), expansion is ready-to-go with this incoming self storage facility in Northwest Arkansas. Strategically positioned in Springdale, AR, this excellent 3.02 acre development opportunity boasts unmatched accessibility in a rapidly growing market. The land has recently received commercial zoning and City-approved site plans for a 45,500 SF self-storage facility will allow the buyer to begin development right away. The area has seen unprecedented growth in recent years, making this an ideal moment to develop a self-storage facility to support the swell of new residents or a last-mile distribution location to serve commerce in Northwest Arkansas.
Development and construction are ready to begin. There will be approximately 158 rentable units and 219 oversized parking spaces. Projected annual gross revenues of $315,600 and projected NOI of $220,500 arrive at a value of this leased-up facility at over $2,200,000 (assuming 10% cap rate).
This is your chance to own a stable, cash-flowing facility (with waitlist) along with land and approved site plans for large expansion (to take advantage of current unmet demand). Combined offering price: $900,000
Properties available individually, preference is given to purchasing as portfolio.
Approved site plans available upon request
Satisfactory perc/soil test results available upon request
Option for seller to continue as manager / consultant (separate agreement)
Security cameras and self-storage management software in-place
Existing facility information is available online (potential for remote management)