Apr
04

Charlotte Self Storage Facility Sold

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Penny Pinchers Self-Storage, a 49,688 square foot self-storage facility at 124 Dorton St in Charlotte, NC, has sold for $1.025 million.

Michael A. Mele, a first vice president investments and senior director of Marcus & Millichap’s National Self-Storage Group, Allen Smith, a vice president investments in the Charlotte Uptown office; and associate Stacey Gorman in the Atlanta office, had the listing to market the property on behalf of the seller, a limited liability company. The buyer is a private investor.

The self-storage facility was built in 1974 and renovated in 2008. It has 334 self-storage, non-climate controlled units and 19 units for RV/boat parking. These units range from 50 to 600 square feet. The asset currently has a 77 percent physical occupancy.

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