1600 Starlite Dr Lumberton, NC 28358

This portfolio comprises three storage facilities with a total of 142,205 square feet. The properties include 8,300 square feet of climate-controlled units, 133,905 square feet of non-climate units, 7 covered parking spaces, and 18 outdoor parking spaces. All three locations have leasing offices and are managed by one employee. There is ample expansion room at all three locations, with the opportunity to convert large vacant units at the Gavintown Road location into additional climate-controlled units. The portfolio offers the opportunity to increase revenue through lease-up, stabilization, and the implementation of existing customer rent increases, as well as maximizing fee income and tenant insurance income revenue streams. The portfolio consists of roughly 40% of the net rentable square feet of self-storage within five miles of the Gavintown Road location. Since the 2020 Census, there has been 2.8% annual population growth within three miles of the Gavintown Road location. Lumberton is located in Southeastern North Carolina, approximately 30 miles south of Fayetteville. The Lumberton MSA is part of the larger Fayetteville-Lumberton-Pinehurst Combined Statistical Area, which is the 4th largest in North Carolina and is home to 693,299 residents.