Attractive two-property self storage portfolio offering strong in-place returns with a 7.71% cap rate and projected growth to over 9% pro-forma. Creekside Storage – Morristown 2-Pack comprises 29,533 rentable square feet across 169 units, delivering stable income with clear upside potential.
Strategically located across East and West Morristown, the facilities benefit from excellent visibility, strong traffic counts, and proximity to established residential areas. The West location sits along a major highway with over 33,000 vehicles per day, while the East site is positioned near growing neighbourhoods and local amenities, ensuring consistent tenant demand and occupancy currently exceeding 82%.
Both properties are well maintained with recent upgrades including LED lighting, modern gate access systems, and full security camera coverage. Operations are streamlined and suitable for remote management, with strong in-place rental rates and additional capacity for optimisation.
Further upside is available through rental increases, lease-up of additional parking spaces, and conversion of existing office space into additional storage units or climate-controlled offerings. This provides a low-cost opportunity to increase revenue and enhance overall returns.
Full transition support will be provided, including operational systems, tenant data, and management processes for a seamless ownership transfer.
Enquire now to access full financials and secure this scalable dual-site self storage investment.
