54000 Us Hwy 82,Itta Bena, MS 38941
Itta Bena, MS 38941
Description
Excellent opportunity to acquire a value-add self-storage facility at an attractive basis. Located at 54000 US Highway 82 in Itta Bena, Mississippi, the property sits along one of the region's primary east-west corridors with approximately 9,000-12,000 vehicles passing the site daily. The facility is just minutes from Greenwood, Mississippi, providing convenient access to a regional trade area while benefiting from excellent highway visibility. The property also offers quick access to Mississippi Valley State University and surrounding communities. Offered at just $100,000, the property is priced well below today's replacement cost, creating an attractive opportunity for investors seeking a low-basis acquisition with significant upside potential. The facility consists of 40 non-climate-controlled storage units configured as follows: * 20 - 10' x 10' * 17 - 10' x 5' * 1 - 10' x 15' * 2 - 10' x 20' Currently, only six units are occupied, providing a substantial leaseup opportunity for an owner willing to implement professional management and marketing. The facility is enclosed by a security fence with gated access and is equipped with solar lighting throughout the property. Unlike many stabilized self-storage facilities, the property currently has virtually no digital presence. It is not operating on a management software platform, has no online rental capability, website, Google Business Profile, or third-party listing exposure. A new owner has the opportunity to significantly improve occupancy through basic operational enhancements, online marketing, revenue management, and improved customer accessibility. Following stabilization, the site also offers a modest opportunity for future expansion, providing additional long-term upside. This offering represents an excellent opportunity for an owner-operator or investor looking to acquire an affordable self-storage facility with meaningful value-add potential, strong highway exposure, and multiple avenues for increasing revenue. Seller financing is not available. Greenwood Storage (Value-add Opportunity): * Below replacement cost acquisition * Only 15% occupied (6 of 40 units leased) * High-visibility US-82 location (9,000-12,000 VPD) * Minutes from Greenwood, MS * Security fence & gated access already installed * Solar lighting throughout the facility * Opportunity to implement management software and online rentals * Potential for future expansion after stabilization * Significant lease-up and revenue growth potential
Details
| MLS # | 12717224 |
|---|---|
| Listing Type | For Sale |
| Style | Industrial |
| Sub-Type | Resale |
| Status | Active |
| Year | 1998 |
| Days On Site | 28 |
| Listing Provided By | MR. LANDMAN | Jon Fisher |
Features
| SQ Feet | 3,400 |
|---|---|
| Story(s) | 1 |
| Units | 40 |
| Zoning | COMMR |
| Acreage | 1.10 |
Interior
| Cooling | None |
|---|
Utilities
| Electric | None |
|---|
Taxes
| Tax Year | 2024 |
|---|---|
| Tax Annual Amount | 1300 |
Area Information
| State | MS |
|---|---|
| City | Itta Bena |
| Zip Code | 38941 |
| Area | Out of Area South |
| Listing VS Median (in 38941) | |
Price: $100,000 low | high Med: $100,000 sqft: 3,400 low | high Med: 3,400 $ / sqft: $29 low | high Med: $29 On site: 28 low | high Med: 28 | |
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Learn More About This Property
| State | MS |
|---|---|
| City | Itta Bena |
| Zip Code | 38941 |
| Area | Out of Area South |
| Listing VS Median (in 38941) | |
Price: $100,000 low | high Med: $100,000 sqft: 3,400 low | high Med: 3,400 $ / sqft: $29 low | high Med: $29 On site: 28 low | high Med: 28 | |