Special Purpose Facility

Knoxville Self Storage

145 Hillview Avenue Knoxville, Tennessee United States 37914
Asking Price Contact for pricing
Area Size
NOI Net Operating Income N/A
Cap Rate N/A

Documents

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Key facts

Year Built 2022
Building Area Net
Land Area Net ()
Number of units 650

Property description

LOCATION: The Property is located along the north side of Hillview Avenue, connected to the I-40 access road at the intersection of US-11W and I-40.


ACRES: +/- 1.89 Acres


FRONTAGE: +/- 289’ of frontage along Hillview Avenue


UTILITIES: Internet and phone provided by AT&T and Domestic and sanitary lines provided by Knoxville Utility Board.


CONSTRUCTION DETAIL: The facility will consist of a single, three level building.


ELEVATOR DETAIL: Two 116” tall Otis Elevators with 4,500 pound capacity.


HVAC DETAIL: The storage areas have eighteen 3.5-ton units with electric heat. The Sales Office has a dedicated 3-ton unit with electric heat. The Property utilizes ductless air handlers in the storage areas with individual thermostats per unit. Bi-polar ion generators and dehumidifiers are located per floor to minimize moisture levels.


OFFICE: Roughly 900 SF of office fit out as to Extra Space’s specifications.


FEATURES AND AMENITIES: The facility will include surveillance cameras, individual unit locks, climate control throughout, keypad entry, and on-site management.


CERTIFICATE OF OCCUPANCY: Expected July 1st, 2022


MANAGEMENT: The property is slated to be professionally managed by Extra Space.


SECURITY: The facility is equipped with a 24-hour video surveillance system and key pad entry into the facility.


OFFERING PRICE: Unpriced

RENTABLE SQUARE FEET: 69,875 SF

EFFECTIVE RENTAL RATE: $16.49 PSF (Proposed)

NUMBER OF UNITS: 650

EXPECTED DELIVERY: July 1st, 2022

OFFER DEADLINE: April 29th, 2022

Investment highlights

NEW BEST-IN-CLASS CONSTRUCTION

Knoxville Self Storage at 145 Hillview Ave is expected to deliver by July 1st, 2022.

The facility will be constructed to Class A standards with an assortment of modern

features and amenities – including 100% climate-controlled units.


EXCELLENT VISIBILITY TO OVER 100,000 VPD

The Property is uniquely situated as the primary storage facility immediately

accessible and visible from I-40 (106,000 VPD) in East Knoxville. The access is

truly unmatched by any other facility in the area.


STRONG SUPPLY-SIDE FUNDAMENTALS

The competitive landscape within a 3-mile radius around the Property currently

features only 6.1 SF of self-storage per person with no comparable new-vintage,

climate control facilities.


LOCATED ON PRIMARY THOROUGHFARE IN KNOXVILLE

Strategically situated along I-40, Knoxville Self Storage is within a short drive from

both Downtown Knoxville (5-Min) as well as the University of Tennessee (8-Min),

which boasts a student enrollment of over 31,000.


KNOXVILLE MSA

With an estimated 2022 population of 188,326, Knoxville Tennessee is often

considered one of the best locations to live in the state. Additionally, it is the home

of the flagship university of the State of Tennessee. Demonstrated by the University

currently under construction or design on $1bn+ of projects, Knoxville continues to

invest in itself while ranking among the top 100 cities to live in the U.S.

Last Updated Date: 11 Aug 2022

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Last Updated Date: 11 Aug 2022

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