Chelsea Self-Storage & Mobile Home Park | 206 Units | 32 Lots | 90% Occupied | 7.4% Cap Rate

Highlights:

• Located in growing suburb of Birmingham, AL
• Large, ±19.18-acre property
• Self-Storage is fenced with keypad entry and security cameras
• Located off of Hwy 280 Corridor which sees 33,060 cars per day
• 650 new homes projected to be built in Chelsea by 2026
• Strong 3-mile average, household income at $107K
• ±27,800 net rentable square feet of storage
• 206 storage units and ±63 parking spaces
• 32 MHP lots: 14 park-owned homes, 16 tenant-owned homes, 2 vacant lots/pads
• Limited supply of mobile home parks in Shelby County with strong demand
• ±11.41 SF of storage per person within 5-mile radius
• Recent Cap/Ex improvements: New LED lighting, new keypad entry
• 29,529 people within a 5-mile radius
• Michael Bull AL License #000083872-0
• Bull Realty AL License #000083871-0

Description:

Bull Realty is pleased to present Chelsea Self-Storage and Mobile Home Park located in a rapidly growing suburb of Birmingham. The property is comprised of 206 non-climate controlled, self-storage units and 32 mobile home lots. 16 of the mobile homes are tenant-owned and 14 are park-owned. Many of the tenants have expressed interest in purchasing the park-owned homes.

Chelsea Self Storage and Mobile Home Park is located off the Hwy 280 corridor which sees 33,060 vehicles per day. Chelsea, AL is located 10 miles southeast of Birmingham, and is a family-oriented community with great schools. The rivers, lakes, and mountains offer plenty of opportunities for recreation.

Value-Add Potential: increasing self-storage rents, offering tenant insurance, raising mobile home rents, and adding covered RV parking or portable storage units.

This property is located in Chelsea, AL.

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