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606 Manufacturers Rd Chattanooga, TN 37405

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For Sale
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Climate-controlled storage facility in North Chattanooga with high occupancy.

Lot size:
1.78 Acres

Property Features for 606 Manufacturers Rd

General Information

Standard status
Active
Lot size
1.78 Acres

Building Details

Year built
2021

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Listing Contact
Austin Mcleod
Source: Crexi

Listing Agency: Matthews Listing Agent: Austin Mcleod

Displayed information is deemed reliable but is not guaranteed and should be independently verified.

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Overview

Class A Storage Facility For Sale

A Class A, all climate-controlled self-storage facility totaling approximately 75,520 rentable square feet across 574 units is available for sale. Built in 2021, the facility is third-party managed as “Extra Space Storage” in the Northshore/Red Bank neighborhoods of North Chattanooga, TN. The facility has maintained over 90% occupancy for over a year, with current occupancy at 95% by units and 96% by square footage, while generating 17% year-over-year revenue growth (excluding tenant insurance). Average achieved rents are $1.50 per rentable SF for ground-level units rented longer than 12 months and $1.30 per SF for elevator-accessed units. The property benefits from prominent visibility and easy access directly adjacent to Highway 27, seeing over 74,800 vehicles per day. The facility also benefits from limited competition on this side of the Tennessee River, serving residents in the Northshore and Red Bank areas as well as downtown Chattanooga commuters. No self-storage facilities are currently under construction nor in planning within a 5-mile radius. The surrounding trade area demonstrates strong economic and demographic trends. Average household incomes in a 1-mile and 3-mile are approximately $85,000 and $84,000, respectively. The population is projected to grow at 2.00% annually in the 1-mile radius and 1.70% annually in the 3-mile radius over the next five years, adding over 4,000 new residents by 2030. This growth is underpinned by over $6.2 billion in estimated value, including more than 7,200 units in planning within a 5-mile radius. The facility is also located a quarter mile from a Whole Foods, 0.6 miles from a Publix, and within 3 miles of new developments including a Chipotle, Walmart, and Starbucks.
Location Intelligence

Current Use by Public Records

Extra Space Storage Storage Facility

Suggested Use

Restaurant Real Estate Agency Building Supply Spa & Massage Center Dental Office Big Box & Wholesale Store Auto Repair Shop Law Firm Hair Salon Auto Parts Store

Zoning and permitted uses should be independently verified with local authorities.

Location Insight

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  • Local Demand
City
Chattanooga
County
Hamilton
State
Tennessee
Longitude
-85.3180393
Latitude
35.060336

FAQs

What type of property is this?
Self storage facility - Climate-controlled storage facility in North Chattanooga with high occupancy.
Where is this self storage facility located?
The property is located at 606 Manufacturers Rd Chattanooga, TN.
What are key features of this property?
This property features: - Class A self-storage facility built in 2021 with ±75,520 rentable square feet.; - Exceptional performance with high occupancy and 17% year-over-year revenue growth.; - **Prominent visibility and easy access** directly adjacent to Highway 27 seeing over 74,800 vehicles per day.
More about this property
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