1500 41st St, Chattanooga, TN 37407-2529

This exceptional self-storage opportunity in Chattanooga, Tennessee presents a compelling value-add investment. The 22,000-square-foot facility, built in 2009, sits on a 2.7-acre lot with 695 feet of road frontage across three streets. Currently boasting 152 units and an 80% occupancy rate (projected to reach 100% by 10/31/2024), the property generates a strong NOI of $136,000. The facility comprises ten single-story buildings with 10-foot ceilings and includes a 600-square-foot office with kitchen and bathroom. Recent additions (2021/2022) include eight containerized storage units (2,848 sq ft). Approved plans for future expansion include 6,125 sq ft of climate-controlled units and 17,600 sq ft of non-climate-controlled units, increasing net rentable space to 43,973 sq ft. The property also offers ample space for auto, boat, and RV storage. A premier U-Haul dealership further enhances revenue streams. The asking price is $2,600,000 with owner financing options available (20% down, 4% interest for 3-4 years, balloon payment). A cash offer of $2,600,000 is also accepted. 1031 exchanges are welcomed. Detailed market studies and environmental reports are available upon request. The permitted zoning is for self-storage.