Southern Storage of Foley presents an excellent Self-Storage investment opportunity with a price of $1,375,000 and a cap rate of 7.10%. The facility offers 19,590 enclosed square feet, including 3,600 square feet of climate-controlled space. Currently 90% occupied, there is plenty of room for growth through rent increases, with an upward 12-month rate trend indicating continued demand.
Located in an area with high demand and strong population growth of 3.75%, this facility benefits from its prime location just 25 minutes north of the beach. It is also adjacent to multiple new housing developments and within proximity to key local employers such as Baldwin Health, Collins Aerospace, Walmart, and the Foley Municipal Airport. The high traffic count of 25,760 cars per day ensures strong visibility and consistent demand for storage.
The facility is a turnkey operation with no items in need of repair or renovation. Major renovations completed in 2024 include painting the unit doors, fixing the electric gate, replacing the underground sewer pipe, clearing out 12 delinquent tenants, and installing solar-powered cameras for enhanced security. With StorEdge Management Software in place and remote management capabilities, the property offers ease of management and a streamlined, efficient operation.
This well-maintained facility offers a stable cash flow, and with the recent upgrades, it is positioned for continued success and growth. In addition to surveillance cameras and fencing, the property is across the street from the Police Station providing added security. The combination of strong local demand, minimal ongoing maintenance, and a strategic location makes Southern Storage of Foley a high-potential investment opportunity.
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