DEAL SUMMARY

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List Price:   $2,700,000

NRSF:         26,458

Units:          224

Acres:         3.1​

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INVESTMENT HIGHLIGHTS

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Strategic Location //  On a Primary Corridor between Johnson City and Kingsport. East Tennessee market with 9.5% population growth since 2010 in both 3-mile and 5-mile radius.

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Room for Expansion //  Approximately One Acre in the Rear of property 

 

Stable Economy //  Across the Tri-Cities Area with Manufacturing, Industrial and Tourism

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Class A Amenities  //  Secure Access, Large Leasing Office, Climate Control units and Camera System

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Area Demographics //  Strong Household Income at $113,101 in a 3-mile and $107,458 in a 5-mile radius.

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INVESTMENT SUMMARY

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Equicap Commercial is pleased to exclusively present Store Safe TN, an owner-operated self-storage facility located at 6620 Kingsport Hwy in the Gray submarket of Johnson City, within Washington County. Positioned along the primary corridor connecting Johnson City and Kingsport, the asset benefits from strong visibility and access within the rapidly growing Tri-Cities region—one of the most compelling secondary markets in the state for storage investment.

 

Store Safe TN comprises 224 units across a diverse mix of climate-controlled, drive-up, and parking options, in addition to a full-service leasing office and a well-appointed one-bedroom apartment currently leased at $1,375/month, providing supplemental income. The facility spans 3.1 acres and 26,458 net rentable square feet, with excess land in the rear offering a clear path for expansion of additional storage or parking inventory. The property is equipped with institutional-quality infrastructure, including an OpenTech gate system, full perimeter fencing, LED lighting, and a modern security camera system. Ownership has consistently reinvested into the asset, highlighted by the addition of a premium 24’ x 50’ fully enclosed motorhome unit featuring remote-operated doors, sealed flooring, and insulation—an increasingly sought-after product type with limited supply in the submarket.

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Recent capital improvements have enhanced both curb appeal and long-term durability, including new concrete and drainage systems, exterior door repainting, pressure washing, and site landscaping. Operationally, the asset is highly automated and scalable, with approximately 80% of tenants enrolled in auto-pay, integration of a DaVinci Lock system, and a modernized website and management platform—enabling efficient remote oversight with minimal day-to-day involvement.

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Having been owner-operated since inception, Store Safe TN presents a compelling opportunity for professional management to further optimize rental rates, expand the unit mix, and capitalize on continued population growth in the Tri-Cities corridor. Priced at $2,700,000, the investor will be able to push occupancy gains while implementing mandatory tenant insurance resulting in a 8.78% cap rate in Year 1.

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