Well-Established Storage and Parking Facility | 112 Benton Way
This feature is unavailable at the moment.
We apologize, but the feature you are trying to access is currently unavailable. We are aware of this issue and our team is working hard to resolve the matter.
Please check back in a few minutes. We apologize for the inconvenience.
- LoopNet Team
thank you
Your email has been sent!
Well-Established Storage and Parking Facility 112 Benton Way
17,196 SF 67% Leased Retail Building Online Auction Sale Benton, TN 37307
You have won the auction!
Please check your email for next steps from the Contracts & Closing Team.
The bid amount you entered is less than the next minimum bid amount, please try again
Confirm your bid amount of
{{Auction.BidAmount}}
Investment Highlights
- 112 Benton Way is home to a 92-unit self-storage facility, and six covered and 15 surface RV/ boat/ truck/ trailer/car parking spaces.
- Prime opportunity for a storage user to acquire and take over a well-maintained storage and parking facility with an on-site management headquarters.
- All renters are on month-to-month terms and can sign up online or in person upon agreeing to the terms and conditions.
- Directly off TN Highway 411 in Polk County in Benton, Tennessee, which is part of the Cleveland, Tennessee, MSA.
- All 92 self-storage units are climate and moisture-controlled, and 33 of these units were recently added in Q1 2024.
Executive Summary
In partnership with Ten-X, Colliers is pleased to present the premier user’s opportunity to acquire and take over 112 Benton Way, a 92-unit self-storage and parking facility. All self-storage units are climate and moisture-controlled. The facility underwent recent renovations and upgrades, providing new LED lighting inside and outside, as well as new electrical systems. Improvements include an on-site one-bed, one-bath manager’s apartment and a management office that offers storage and moving supplies for sale. Storage units range from 10 feet by 10 feet to 10 feet by 20 feet, with extra-wide halls for easy access. There are six covered and 15 surface spaces for RV, truck, boat, car, or trailer drivers; a 1.5-acre poured concrete pad site ready for 50+ additional storage units; and further space for more boat and RV storage. The prominent pylon and building signages are highly visible from the fully fenced-in property, where more than 9,600 cars pass daily via Highway 411.
Benton is a charming, close-knit community about 15 miles east of Cleveland, Tennessee. Its appealing downtown area is where Highway 411 and 64 come together. The suburb is tucked under the Chilhowee Mountains and is a few miles from Parksville Lake (Lake Ocoee). According to CoStar analytics, 112 Benton Way’s 10-mile radius has a population of 36,189 residents, set to increase by 1.1% by 2029, an average household income exceeding $81,300, and an annual consumer spending of more than $455.7 million. Of the Transportation and Maintenance category, approximately $128 million is spent, with the largest sub-category being boats and outboard motors, aligning with the storage facility’s capabilities and the area's demand.
This well-established facility currently has 67.17% occupancy with month-to-month renters, presenting a strong, income-generating, hands-off opportunity. Inquire today to schedule a site visit. You must see it to appreciate how the owner has transformed this former Fred's retail store into a state-of-the-art storage facility.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
Benton is a charming, close-knit community about 15 miles east of Cleveland, Tennessee. Its appealing downtown area is where Highway 411 and 64 come together. The suburb is tucked under the Chilhowee Mountains and is a few miles from Parksville Lake (Lake Ocoee). According to CoStar analytics, 112 Benton Way’s 10-mile radius has a population of 36,189 residents, set to increase by 1.1% by 2029, an average household income exceeding $81,300, and an annual consumer spending of more than $455.7 million. Of the Transportation and Maintenance category, approximately $128 million is spent, with the largest sub-category being boats and outboard motors, aligning with the storage facility’s capabilities and the area's demand.
This well-established facility currently has 67.17% occupancy with month-to-month renters, presenting a strong, income-generating, hands-off opportunity. Inquire today to schedule a site visit. You must see it to appreciate how the owner has transformed this former Fred's retail store into a state-of-the-art storage facility.
Property tours are available by appointment only. Please get in touch with the listing broker to schedule.
Offering Memorandum Click Here to Access
Data Room Click Here to Access
- Offering Memorandum
- Operating and Financials
- Purchase Agreement
- Third Party Reports
- Miscellaneous
Property Facts
Sale Type
Investment
Sale Condition
Auction Sale
Property Type
Retail
Property Subtype
Freestanding
Building Size
17,196 SF
Building Class
B
Year Built/Renovated
2007/2024
Tenancy
Single
Building Height
1 Story
Building FAR
0.17
Lot Size
2.35 AC
Zoning
Commercial - Self Storage - Commercial
Parking
21 Spaces (1.22 Spaces per 1,000 SF Leased)
Amenities
- Pylon Sign
- Signage
DEMOGRAPHICS
Demographics
1 Mile
3 Mile
5 Mile
2024 Population
1,546
4,196
6,952
2020 Population
1,382
4,013
6,683
2029 Population
1,641
4,405
7,297
2024-2029 Projected Population Growth
6.1%
5.0%
5.0%
Daytime Employees
607
1,186
1,935
Total Businesses
89
175
253
Average Household Income
$66,067
$85,367
$89,124
Median Household Income
$41,477
$58,727
$64,058
Total Consumer Spending
$16.4M
$53.4M
$91.8M
Median Age
42.7
45.2
45.6
2024 Households
583
1,654
2,741
Percent College Degree or Above
10%
10%
9%
Average Home Value
$172,944
$205,066
$223,375
$ values in USD
PROPERTY TAXES
| Parcel Number | 045-028.17 | Improvements Assessment | $423,899 CAD |
| Land Assessment | $53,867 CAD | Total Assessment | $477,766 CAD |
PROPERTY TAXES
Parcel Number
045-028.17
Land Assessment
$53,867 CAD
Improvements Assessment
$423,899 CAD
Total Assessment
$477,766 CAD
Sale Advisor
Sale Advisor
Ashley Compton, Principal and Vice Chairman
(615) 850-2774
Contact
With a reputation as a key player in self-storage investment sales, Ashley Compton has sold or listed more than 22.9 million square feet of self-storage over the course of his 20+ year brokerage career. These transactions are valued in excess of $2.45 Billion and place Ashley among top national producers. Upon joining Colliers' Nashville office in 2016, Ashley was named a National Director of self-storage investment sales. Ashley has received the Colliers' Top Producer Award and the Everest Club Award (Top 10% Producer for Colliers US) every year since joining Colliers.
While obtaining his undergraduate degree, Ashley launched his career as an acquisitions analyst for a self-storage REIT. His brokerage experience began at CBRE in 2004, where he quickly developed the firm’s Nashville-area self-storage practice and grew it into a well-known national brand. In 2014 and 2015, CBRE recognized Ashley as the firm’s highest-grossing national self-storage producer. Ashley has served diverse clients including Bank of America, GE Capital Corporation, Babcock & Brown, Westport Properties, Koch Real Estate Investments, and Amerco / U-Haul.
Before acquiring a master’s of business administration with a concentration in accounting from the University of Mississippi’s School of Business, Ashley earned a bachelor’s in finance and real estate from the University of Memphis.
While obtaining his undergraduate degree, Ashley launched his career as an acquisitions analyst for a self-storage REIT. His brokerage experience began at CBRE in 2004, where he quickly developed the firm’s Nashville-area self-storage practice and grew it into a well-known national brand. In 2014 and 2015, CBRE recognized Ashley as the firm’s highest-grossing national self-storage producer. Ashley has served diverse clients including Bank of America, GE Capital Corporation, Babcock & Brown, Westport Properties, Koch Real Estate Investments, and Amerco / U-Haul.
Before acquiring a master’s of business administration with a concentration in accounting from the University of Mississippi’s School of Business, Ashley earned a bachelor’s in finance and real estate from the University of Memphis.
About the Auction Platform
Ten-X Commercial is the leading end-to-end digital transaction platform for commercial real estate. With over $26bn sold, Ten-X’s platform empowers brokers, sellers and buyers with data-driven technology and comprehensive marketing tools to expand market visibility and decrease time to close. Ten-X consistently yields trade rates at two times the industry average. Ten-X expedites the entire CRE transaction timeline by enabling brokers and sellers to tap into a digital platform that makes it easy to onboard properties, evaluate the success of complimentary omnichannel marketing campaigns and follow up on the strongest pre-qualified leads. Buyers are precision-matched with properties aligned with their investment goals, with unprecedented access to market analysis and due diligence documents to help them securely acquire properties online, with confidence.
Read More
Auction Contact
Amen Almukhtar
Contact
Auctioneer License:
Ten-X Arlene Richardson RE Brkr 265318. (888) 952-6393
1 of 21
VIDEOS
3D TOUR
PHOTOS
STREET VIEW
STREET
MAP
Transaction Fee Schedule
Based on Percentage of Winning Bid Amount.
Winning Bid Amount
Transaction Fee
$0m to < $1m
5.00% ($20,000 min)
$1m to < $3m
3.00%
$3m to < $5m
2.50%
$5m to < $10m
2.25%
$10m to < $15m
2.00%
$15m to < $25m
1.75%
$25m to < $35m
1.50%
$35M to < $45M
1.00%
$45M to < $55M
0.75%
$55M and Up
0.50%
Example Calculation
Winning Bid Amount
$4,000,000
Transaction Fee
$100,000 (2.5%)
Total Purchase Price
$4,100,000
Presented by
Well-Established Storage and Parking Facility | 112 Benton Way
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.
Presented by
Well-Established Storage and Parking Facility | 112 Benton Way
Already a member? Log In
Hmm, there seems to have been an error sending your message. Please try again.
Thanks! Your message was sent.