2784 Morningside Drive, Morristown, TN 37814, USA

Morristown, Tennessee

StoragePUP of Morristown | Located in Fast-Growing Morristown, TN

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Available Spaces

114

Total Square Feet

25714

Total Acreage

1.61

Asking Price

$799,000

Parking Spaces

53 Uncovered/Dedicated Parking Spaces

Year 5 stabilized Cap Rate exceeds double digits at an impressive of 13.70%
114 Units | 7,808 Gross Rentable SF | 25,714 Gross Rentable SF (includes parking) | Diversified unit mix & air-conditioned units available
Situated on ±1.61 acres in Tennessee’s Hamblen County | The site is secured with perimeter fencing and gated entry for enhanced safety and the ability to operate remotely
Newly opened facility in initial leasing phase | Ribbon cutting with Chamber of Commerce August 2024
Upside available by stabilizing the occupancy, expansion of relocatable unit business, new onsite development, and ongoing rental rate adjustments
Facility is fully fenced & gated with 24/7 access, equipped with camera surveillance & keypad entry | Keypad is Internet based, which is vital to managing the facility remotely and it comes with an app for easy access, the ability to rent units and pay their bill
Tennessee’s Morristown metro area reported 22.6% population growth in the last five years, the seventh most among 381 U.S. metro areas