DEAL SUMMARY

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List Price:  $2,600,000

NRSF:        26,150

Units:         230

Acres:        3.77

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INVESTMENT HIGHLIGHTS

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ESTABLISHED OPERATING ASSET // Built in 2000, the owner-operated property comprises 26,150 NRSF and 230 total units, providing an established self-storage operation along Highway 63 next to Columbia Regional Airport.

 

DIVERSE UNIT MIX // The facility offers non-climate drive-up units, climate-controlled units, covered parking, and uncovered parking units, providing multiple storage and parking options.

 

CURRENT OCCUPANCY // The property is currently 86.1% occupied by unit count, with 198 of 230 units rented, and 80.1% occupied based on rentable square footage.

 

CLIMATE-CONTROLLED COMPONENT // Climate-controlled units comprise 81 units and 9,900 NRSF, with 93.8% unit occupancy at below market rates.

 

NOI GROWTH // Current adjusted NOI is $186,665, with Year One NOI projected at $219,901, representing approximately 17.8% growth from the current adjusted period.

 

SUPPORTIVE MARKET FUNDAMENTALS // Located just south of Columbia, the five-mile trade area has 6,955 residents and 2,692 households, with population and households projected to increase to 7,274 and 2,837, respectively, over the next five years.​

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INVESTMENT SUMMARY

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Air Tight Storage presents an acquisition opportunity for a 230-unit self-storage property located at 10601 S Hardwick Ln in Columbia, Missouri. The property contains 26,150 NRSF across a diversified mix of non-climate drive-up units, climate-controlled units, covered parking, and uncovered parking units. As of the August 7, 2026 occupancy date reflected in the Financial Model, 198 units are rented, representing 86.1% physical occupancy and 80.1% occupancy by rentable square footage. The current adjusted NOI is $186,665, with Year One NOI projected at $219,901.

 

The investment is supported by a defined opportunity to improve operating performance through the Financial Model's underwriting assumptions. Gross Potential Rent is projected to increase from $297,348 currently to $320,868 in Year One, while rental income is projected to increase from $254,795 to $277,726. The model further projects NOI to increase to $226,007 in Year Two and reach $268,375 by Year Five, reflecting the combined impact of rent growth, occupancy assumptions, and operating performance. At the $2.60 million acquisition price, the property represents an entry price of approximately $99.43 per NRSF and a current adjusted cap rate of 7.18%.

 

The surrounding market provides additional support for the asset. TractIQ reports a five-mile trade area population of 6,955, projected to increase to 7,274 over the next five years, while households are projected to increase from 2,692 to 2,837. With highway frontage on US Highway 63, Air Tight Storage is well located near the Columbia Regional Airport and the Lakeside Amphitheatre. Overall, the combination of an established 230-unit operating asset, current in-place occupancy, diversified unit mix, and underwritten revenue and NOI growth provides a defined basis for evaluating the property's investment potential.