2816 Meighan Blvd Gadsden, AL 35903-1908

This exceptional self-storage opportunity presents a newly constructed, stabilized investment property located at 2816 E Meighan Blvd, Gadsden, Alabama, 35903. The property boasts 24,150 net rentable square feet across six buildings, including 161 units (132 drive-up and 28 climate-controlled). Built in 2023 and 2024, the facility currently enjoys a 62.5% occupancy rate, projected to increase significantly upon completion of two additional buildings currently under construction, slated for December 2024. The property sits on a 3.5-acre lot with excellent visibility from E. Meighan Blvd, a high-traffic area with over 22,000 vehicles per day. A retail building on the property is under lease until 2029, providing additional income stability. The current Net Operating Income (NOI) is $102,658, with a pro-forma NOI of $141,012, reflecting a current cap rate of 5.70% and a pro-forma cap rate of 7.83%. The asking price is $1,800,000, translating to a price per square foot of $74. This value-add investment offers significant upside potential through increased occupancy and rental rate adjustments. The property's strategic location and strong market fundamentals make it an attractive investment opportunity for discerning buyers seeking a high-performing self-storage asset in a growing market.