Grandstone Investment Sales is pleased to present a four-property West Virginia self-storage portfolio totaling 44,318 net rentable square feet and 414 units across the Huntington and Cross Lanes markets. The portfolio spans two distinct regional submarkets within West Virginia, with Mission Storage Rental – Mini Storage Dr and Mission Storage Rental – Big Tyler Rd located in Cross Lanes within the Charleston MSA, a stable suburban corridor characterized by established residential density and convenient access to major transportation routes serving the broader Kanawha Valley. The remaining assets—Huntington Self Storage – 3rd Ave and Huntington Self Storage – 8th Ave—are located in Huntington, a core Ohio River market defined by dense in-fill residential neighborhoods, strong local tenancy, and regional demand drawn from the Tri-State area.
The portfolio is currently operating at 85.28% physical occupancy and 80.14% economic occupancy, generating $236,487 in current NOI. The business plan underwrites growth to $287,699 in Year 1, driven by lease-up across the Cross Lanes assets—currently operating at 80.14% economic occupancy—alongside continued stabilization and pricing optimization across the portfolio. Huntington Self Storage – 8th Ave, currently 98.25% occupied, serves as the stabilized anchor asset, providing durable in-place cash flow as the lease-up strategy is executed across the remaining facilities.
INVESTMENT
HIGHLIGHTS
- INSTANT REGIONAL SCALE
44,318 net rentable SF and 414 units across four assets deliver immediate West Virginia scale in a single transaction across two complementary submarkets. - LEASE-UP UPSIDE IN CROSS LANES
The Cross Lanes assets offer deep lease-up runway toward stabilized occupancy, the portfolio’s primary driver of NOI growth. - RENT ALIGNMENT TO MARKET
In-place rents across all four facilities sit below market, providing a clear path to revenue growth as units re-rate to prevailing self-storage rates in each submarket.
- STABILIZED ANCHOR AT 8TH AVENUE
The 630 8th Avenue asset is 98.25% economically occupied, anchoring current cash flow and de-risking the business plan while lease-up is executed. - CAP-RATE EXPANSION
Aggregate NOI is underwritten to grow from $236,487 to $328,291, expanding the blended cap rate.
Brian Brockman | Bang Realty Inc | bor@bangrealty.com | License: