Updated Oct 29, 2024
Highline Storage Partners Acquires Self Storage Facility In Kernersville, NC For $25.5M
1410 Heartland Drive, Kernersville, NC, 27284, USA
$25,500,000
$373/SF
Building Size
68,219 SF
Asset Type
Self Storage
Closing
Apr 5, 2023
About this deal
AI
The self storage property located at 1410 Heartland Drive in Kernersville, NC was recently sold. The sale took place on April 5, 2023, and the buyer was Highline Storage Partners. The property spans a total of 68,219 square feet and was sold for $25,500,000, resulting in a price per square foot of $374.
Summary of transaction details:
- Property Type: Self Storage
- Transaction Amount: $25,500,000
- Address: 1410 Heartland Drive
- Market: Kernersville, NC
- Buyer: Highline Storage Partners
- Square Footage: 68,219
- Price per Square Foot: $374
This transaction represents a significant investment in the self storage market of Kernersville, NC. Highline Storage Partners, a well-known player in the industry, secured the property for their portfolio.
Players
Kernersville Self Storage Market Snapshot
Boundary boundary · Self Storage · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.62%
Cash-on-Cash
-0.18%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93