FreeUp Storage Shelbyville
Shelbyville, KY
FreeUp Shelbyville represents a compelling investment in a stabilized self-storage facility with significant avenues for additional upside. While already performing well, the property offers clear opportunities to enhance profitability through strategic initiatives. A key aspect of this upside involves unit conversion projects, allowing for the creation of more desirable or specialized storage types that command higher rental rates. Additionally, bringing the facility's existing rents to market rate will immediately boost revenue, as current pricing may not fully reflect the area's demand or the quality of the asset.
The strong market demand in Shelbyville is clearly exemplified by the rapid lease-up of new buildings added in 2019. These newer units quickly reached high occupancy, demonstrating a robust need for quality storage solutions in the vicinity. This demand is further highlighted by the local competitive landscape; nearby self-storage facilities are generally characterized by lower build quality and often suffer from unsophisticated management. This stark contrast positions FreeUp Shelbyville as a superior option, allowing for premium pricing and sustained tenant attraction, thereby ensuring long-term value appreciation and strong returns.
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STABILIZED FACILITY
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DIVERSE UNIT MIX
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TOTAL 114,132 GSF
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STRONG POPULATION GROWTH
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CLASS-A PORTFOLIO
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EXPANSION POTENTIAL
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