Reidsville Mini Storage
  • Purchased Dec. 2021 by a single owner operator.
  • Increased the average unit rate from $59.00 to $90.00 a month.
  • Placed our management practices in the place (manage to revenue, not occupancy) and have been able to drive significant investor value in a short period of time.
  • Most of the capex focused on curb appeal enhancements, new HVAC units, and converting a small unused building into 18 additional storage units.
  • Purchase Price: $5.25 Million
  • Capex Budget: $235K
  • Total Capitalization: $5.48 Million
  • Strategy: Focus on operations and build a portfolio in the immediate to sale(currently own 2,600 units in a 50‐mile radius)
  • Project Size: 88,000 NRSF / 706 Units
  • Capital Partners: Friends/Family/Syndication
  • Revenue Since Purchase: Up 32.39% (purchased Dec. 2021)
  • Occupancy: 86%
  • Cur. Cash on Cash to LP’s: 14.62%
  • Value Creation: ~$3.4M since purchase

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