American Storage South
Call For Offers Date - February 20, 2025
Strategic Charlotte MSA Portfolio
Number of Units
1,378
Number of Properties
3
Total Building SF
145,368
Total Land Size
11.94
Sale Price
$25,200,000
Cap Rate
6.00%
Cap Rate - Year 1 Buyer
6.16%
NOI
$1,499,352
NOI - Year 1 Buyer
$1,552,923
Occupancy (blended)
85.00%
The Opportunity
Scale - American Storage South offers a new owner the opportunity to grow their existing portfolio or enter the Charlotte MSA market with a strategic existing portfolio that is positioned in the path of residential and job growth.
Demographics - The submarkets of Concord and Harrisburg are experiencing above average growth with strong wages. 2024 Population 108,608 (+4.07% change) 2026 Population 112,926 (+8.20% change)
Demand: The demand for storage space has remained unwavering, promising a steady rise in market demand that shows no signs of slowing down.
Technology - American Storage South has been utilizing KISS Solutions smart locks and remote virtual management for over two years. This has proven to be a successful model. keepitsimplestorage.com
Supply / Competition - No known developments within 3 miles.
Concord Housing Market - In December 2024, Concord home prices were up 3.7% compared to last year, selling for a median price of $402K.
Business Friendly State - North Carolina has consistently been ranked high as a business-friendly state with lower-than-average taxes which has proven true to attract new businesses and development.
Major Employers - Bank of American, Duke Energy, Wells Fargo, Atrium Health, Lowes Home Improvement, American Airlines, Amazon, Ally Financial, NASCAR, Electrolux, Nucor Corp, Lilly, Coca-Cola, Siemens Energy, and many more.
American Storage South - HWY 49
2942 NC Highway 49 S, Harrisburg , NC 28075
Number of Units
687
Land Acres
4.94 Acres
Rentable Square Feet
65,295
American Storage South - Speedway
5498 Hudspeth Dairy Rd., Harrisburg , NC 28075
$5,040,000
Number of Units
221
Land Acres
2.89 Acres
Rentable Square Feet
29,823
American Storage South - Commercial Park Dr
108 Commercial Park Dr., Concord , NC 28027
$8,960,000
Number of Units
495
Land Acres
3.61 Acres
Rentable Square Feet
64,695
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