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2784 Morningside Dr
Morristown, TN 37814

StoragePUP of Morristown · Speciality Property For Sale · 25,714 SF

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Investment Highlights

Year 5 stabilized Cap Rate exceeds double digits at an impressive of 13.70%
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
Upside available by stabilizing the occupancy, expansion of relocatable unit business, new onsite development, and ongoing rental rate adjustments

114 Units | 7,808 Gross Rentable SF | 25,714 Gross Rentable SF (includes parking) | Diversified unit mix & air-conditioned units available
Newly opened facility in initial leasing phase | Ribbon cutting with Chamber of Commerce August 2024
Facility is fully fenced & gated with 24/7 access, equipped with camera surveillance & keypad entry | Keypad is Internet-based, which is vital to mana

Executive Summary

Year 1 Cap Rate:6.11%
Year 2 Cap Rate: 7.98%
Year 5 Cap Rate: 13.70%

PROPERTY FACTS

Sale Type	Investment	Lot Size	1.61 AC
Net Initial Yield	7.98%	Building Size	25,714 SF
Property Type	Speciality	Number of Floors	1
Property Subtype	Self-Storage	Year Built	2020
Building Class	C

Sale Type	Investment
Net Initial Yield	7.98%
Property Type	Speciality
Property Subtype	Self-Storage
Building Class	C
Lot Size	1.61 AC
Building Size	25,714 SF
Number of Floors	1
Year Built	2020

PROPERTY TAXES

Parcel Number	032034C G 00301	Improvements Assessment	£0
Land Assessment	£33,024	Total Assessment	£33,024

PROPERTY TAXES

Parcel Number

032034C G 00301

Land Assessment

£33,024

Improvements Assessment

£0

Total Assessment

£33,024

Listing ID: 33270429
Date on Market: 23/09/2024
Last Updated:
Address: 2784 Morningside Dr, Morristown, TN 37814

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