DEAL SUMMARY - SEYMOUR AND SEVIERVILLE

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List Price:   $3,650,000

NRSF:         41,380

Units:          290

Acres:         2.74

Locations:   3

In-Place Cap Rate:7.52%

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BURNETT STATION - SEYMOUR

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NRSF:  23,200      

Units:  165        

Acres: 1.66

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INVESTMENT HIGHLIGHTS

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LOCATION & MARKET //  Situated just off Chapman Hwy, a primary town thoroughfare, the facility benefits from local visibility and proximity to established residential areas.

 

OPERATION & SECURITY //  The property maintains high occupancy with achieved rents above gross potential allowing for increased street rate potential. The facility has been upgraded to PDK gate controllers with LiftMaster motor ensuring only paying tenants access units. The largest facility of the portfolio and operated in tandem with the Plaza, Burnett excels at cashflow and with 12 Hikvision cameras routed to on-site internet-enabled NVR, remote monitoring is consistent and reliable. Full LED lighting throughout the facility for tenant safety and security.

 

CAPITAL EXPENDITURES & IMPROVEMENTS //  In addition to the new gate controllers, LiftMaster motor, LED lighting, new bollards were installed. Four additional parking spots are ready to support new tenants that are in operations in the field but have not yet been added into software as of the listing date.

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PAYNE SCHOOL & BOYDS CREEK - SEVIERVILLE

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NRSF:         18,180

Units:          125

Acres:         1.08

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INVESTMENT HIGHLIGHTS

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LOCATION & MARKET //  The two facilities are located approximately 0.2 miles apart in the Boyd’s Creek submarket, a primary thoroughfare between Knoxville and Sevierville. Traffic counts average 14,423 VPD west of the property and11,169 VPD eastbound along Boyds Creek Hwy, supporting strong visibility and consistent demand drivers.

 

OPERATION & SECURITY //  The combined operation supports a disciplined ECRI strategy. Achieved rents average $10.43 per occupied SF versus scheduled rents of $8.47 per NRSF, allowing for systematic rate optimization beginning in Year 1with minimal occupancy disruption.

 

CAPITAL EXPENDITURES & IMPROVEMENTS //  Both facilities benefit from recent operational upgrades. LED lighting with photocells was installed approximately two years ago, reducing operating costs. The Boyds Creek facility, with frontage onBoyds Creek Hwy, is equipped with a cell-based Reolink LTE camera system providing real-time remote monitoring without reliance on hardwired internet. The Payne School location includes a push gate with padlock, while the BoydsCreek facility operates without a gate due to site layout and visibility.

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