moore storage

Grandstone is pleased to present Moore Storage, a well-established self-storage facility situated in the heart of Southern Pines, North Carolina. The facility has maintained strong historical occupancy rates and is currently 95% physically occupied. The facility currently features 213 drive-up non-climate-controlled units and onsite manager living quarters comprising 32,500 net rentable square feet. Moore Storage was built in 2002 and is situated on 3.79 acres of land with room for expansion. There are 37,226 people living within a five-mile radius a 32.7% population increase from 2010, with an impressive average household income of $132,965 within a 5-mile radius.

Significant value-add opportunity with current rents roughly 40% below market. Enhancing the facilities curb appeal and the implementation of professional management such as advertising and a strong web presence will allow a significant increase to rental rates. In addition, introducing supplementary revenue streams like tenant insurance and associated fees will substantially increase cashflow and value.

Seller financing is preferred with terms offered not available in today’s debt market providing ample time for a buyer to make capital improvements while continuing to cash flow.