3416 Nc-97 Hwy - CornerStone Self Storage
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3416 Nc-97 Hwy - CornerStone Self Storage
59,415 SF Specialty Building Offered For Sale in Wendell, NC 27591
Investment Highlights
- Impressive Occupancy: 93.3% Physically Occupied (October 17, 2024)
- Subject Property Street Rate on a 10X10 CC 1st Floor is $135 Versus Local Market AVG of $213
- Strong Income Submarket: Average Household Income - $103,411 (5-Mile Radius)
- Huge management upside on raising street rents to market rates and implementing tenant insurance
- Rapidly Growing Market: 6,589 Future Residential Units in Development Pipeline (5-Mile Radius)
- Facility Expansion Available: Approximately 5,400 NRSF
Executive Summary
View Offering Memorandum and Due Diligence: https://selfstorageadvisory.com/properties/cornerstone-self-storage/
CBRE’s Self Storage Advisory Group proudly presents Cornerstone Self Storage, a traditional self storage facility located in the Raleigh, NC MSA. The property features 489 units distributed across 46,175 net rentable square feet of ground level drive storage and outdoor parking space. Valuable on-site amenities offered include month to month rentals, on-site security and online billpay.
Cornerstone Self Storage is an attractive opportunity due to its strategic location, conveniently located near major highways. The property is situated in the thriving Research Triangle Park region, known for its robust economic activity and innovation. Wendell’s economy is experiencing significant growth, with a city population increase of over 58% since the last census, driven by its proximity to Raleigh and the availability of affordable land.
The immediate area around Cornerstone Self Storage is witnessing rapid development. The Wendell Falls development, located nearby, is a prime example of the area’s growth. The Wendell Falls development is a significant mixed-use project that encompasses a substantial amount of retail and commercial space, making it a focal point for the area’s growth. The development includes Treelight Square, a 35,000-square-foot retail district featuring a variety of shopping, dining, and entertainment options. Additionally, the development plans to offer up to 2 million square feet of commercial space, which will include office buildings, medical facilities, and other essential services. This extensive commercial infrastructure is designed to support the growing residential community and attract further investment to the area.
Listing Agent:
Morgan Windbiel
NC Lic. 334570
CBRE’s Self Storage Advisory Group proudly presents Cornerstone Self Storage, a traditional self storage facility located in the Raleigh, NC MSA. The property features 489 units distributed across 46,175 net rentable square feet of ground level drive storage and outdoor parking space. Valuable on-site amenities offered include month to month rentals, on-site security and online billpay.
Cornerstone Self Storage is an attractive opportunity due to its strategic location, conveniently located near major highways. The property is situated in the thriving Research Triangle Park region, known for its robust economic activity and innovation. Wendell’s economy is experiencing significant growth, with a city population increase of over 58% since the last census, driven by its proximity to Raleigh and the availability of affordable land.
The immediate area around Cornerstone Self Storage is witnessing rapid development. The Wendell Falls development, located nearby, is a prime example of the area’s growth. The Wendell Falls development is a significant mixed-use project that encompasses a substantial amount of retail and commercial space, making it a focal point for the area’s growth. The development includes Treelight Square, a 35,000-square-foot retail district featuring a variety of shopping, dining, and entertainment options. Additionally, the development plans to offer up to 2 million square feet of commercial space, which will include office buildings, medical facilities, and other essential services. This extensive commercial infrastructure is designed to support the growing residential community and attract further investment to the area.
Listing Agent:
Morgan Windbiel
NC Lic. 334570
Property Facts
| Sale Type | Investment | Building Size | 59,415 SF |
| Property Type | Specialty | No. Stories | 1 |
| Property Subtype | Self-Storage | Year Built/Renovated | 1997/2023 |
| Building Class | C | Cross Streets | Edgemont Rd |
| Lot Size | 8.60 AC |
| Sale Type | Investment |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 8.60 AC |
| Building Size | 59,415 SF |
| No. Stories | 1 |
| Year Built/Renovated | 1997/2023 |
| Cross Streets | Edgemont Rd |
Amenities
- Signage
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PROPERTY TAXES
| Parcel Number | 1774.02-88-5588-000 | Improvements Assessment | $7,502,699 CAD |
| Land Assessment | $1,270,779 CAD | Total Assessment | $8,773,478 CAD |
PROPERTY TAXES
Parcel Number
1774.02-88-5588-000
Land Assessment
$1,270,779 CAD
Improvements Assessment
$7,502,699 CAD
Total Assessment
$8,773,478 CAD
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Power Broker Nicholas Walker -
CBRE, Inc.
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3416 Nc-97 Hwy - CornerStone Self Storage
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