414 Old Highway 64, Hayesville, NC 28904

$599,500

Property Description

Mini-storage facility with 72 enclosed bays in two buildings totaling 10,400 square feet and 18 covered bays in a 7,000 square foot frame pole barn for RV, car, boat, etc. storage. Average street rate currently is $64 per month with occupancy of around 80%. Based on reconstructed in-place NOI return is 7.2%. Near-term potential by bumping rates and increasing occupancy, and longer-term potential with freshening and adding gates, cameras, and lights. Pricing includes 1.5 +/- acres of unrestricted land split by easement; about 50% is open, cleared, level land with fencing, balance is generally level with trees and brush.

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Listing courtesy of Mountain Streams Real Estate.