64,350 SF | Extra Space Storage - Smyrna, TN

Colliers is pleased to present an institutional quality self‑storage asset managed by Extra Space Storage that is located at 851 Isabella Lane in Smyrna, Tennessee, one of the most established and highly trafficked retail corridors in Rutherford County. Positioned between Publix and Home Depot, the facility has direct exposure to 56,264 vehicles per day on Sam Ridley Boulevard and 15,270 vehicles per day on Rock Springs Road. Constructed in 2022, the property features a single three‑story, 100% climate‑controlled structure comprising 554 units and 64,350 rentable square feet on approximately 1.79 acres, and offers the modern design, location quality, and operating stability consistent with Core real estate investments.

The asset is stabilized and operating with ~95% physical occupancy and ~90% economic occupancy, producing durable, in‑place cash flow with limited leasing or execution risk. The facility is supported by institutional-grade amenities, including a spacious management office, 32 security cameras, two covered loading areas, two freight elevators, complimentary moving carts, keypad access on all exterior doors, motion‑activated LED lighting in hallways and larger units, and a tenant intercom system, all of which contribute to tenant retention, operational efficiency, and low ongoing capital requirements.

From a demographic perspective, the asset is located in a market characterized by strong renter density, an essential demand driver for self‑storage. Within a one‑mile radius, renters account for approximately 62% of occupied households, while renter penetration remains meaningful at approximately 39% within three miles. The broader five‑mile trade area exceeds 120,000 residents, with average household incomes above $100,000, reinforcing the long‑term durability of demand for climate‑controlled storage. Supply conditions remain balanced, with approximately 10.2 square feet of self‑storage per capita within five miles, consistent with equilibrium levels and supportive of continued rent growth without reliance on aggressive underwriting assumptions.

This Extra Space managed facility represents a true Core investment opportunity, a modern, institutional-quality asset in a top-tier market with stable revenue and limited downside risk.  This irreplaceable, high-visibility asset benefits from its premier retail location in a market defined by strong renter demographics, balanced supply, and consistent cashflow. With minimal capital expenditure requirements, best‑in‑class management, and long‑term market fundamentals, the asset is well suited for long‑duration hold strategies focused on capital preservation and steady income generation.