Investment Overview

Marcus & Millichap proudly presents the exclusive opportunity to acquire U-Storage, a well-positioned self-storage facility situated at 8501 A L Philpott Hwy in Martinsville, VA. Occupying a strategic 0.67-acre parcel, the establishment features 5 drive-up units that maintain a strong 94% physical occupancy rate and an additional 15 climate-controlled units at 33.33% physical occupancy. There are also 2 converted office spaces on the site. The property encompasses a total of 7,576 net rentable square feet, showcasing efficient space utilization. An in-depth examination of the local self-storage market reveals a favorable saturation rate within a 1-mile radius at 4.7 square feet per capita, which slightly increases to 4.8 square feet per capita within a 3-mile radius. Notably, the saturation expands significantly to 8.5 square feet per capita within a 5-mile radius. These figures indicate a healthy demand for self-storage in the area and signal a well-chosen location for U-Storage. A unique value proposition for this asset is its avoidance of any forthcoming competition in the local vicinity, as there are no known development projects within a 10-mile radius. This ensures a potential for maintaining or even growing rental rates due to a lack of new entrants in the market space, securing a stable customer base for the future. Furthermore, U-Storage benefits from its considerable visibility and convenience of access, being prominently situated at the bustling intersection of Hwy 58 and Hwy 57. This high-traffic area not only ensures ease of accessibility for current and future storage customers but also enhances the facility's presence in the community. In summary, U-Storage offers an attractive investment proposition, anchored by its high occupancy levels, robust market demand, and excellent location. It represents a unique chance to invest in a stable, high-potential self-storage facility that stands to benefit from the area's current and future storage needs.