53,616 SF Self Storage Investment | Franklin, TN

Extra Space - Franklin presents the opportunity to acquire a Core+ institutional quality self-storage facility with tremendous expansion potential in Franklin, Tennessee. The property occupies approximately 5.29 acres and contains 53,616 rentable square feet across nine single-story buildings. The facility offers 410 units, including 338 non-climate-controlled units, two climate-controlled units and 70 surface parking spaces.  The property is situated along Mallory Station Road (12,356 AADT) in the Cool Springs commercial corridor, surrounded by retail, office, industrial and dense multifamily uses.

The facility benefits from a high-income Franklin and Williamson County location within the broader Nashville MSA. ESRI Demographics report 2026 average household income of $178,606 within three miles and $203,945 within five miles, with projected population growth from 39,044 to 41,117 residents within three miles and from 108,602 to 114,446 residents within five miles by 2031.

Extra Space – Franklin offers unparalleled amenities, including gated keypad access, on site management office, 24-hour video surveillance, security lighting, and wide drive aisles, providing a clean, secure facility with a competitive advantage over nearby operators.  A central element of the investment thesis is the potential to materially increase rentable area. Concept plans illustrate alternatives that could replace the existing surface parking and selected non-climate-controlled buildings with a new multi-story structure. The concepts show potential net storage gains ranging from approximately 15,700 square feet for a one-story alternative to approximately 81,700 square feet for a three-story alternative. This expansion opportunity is allowed by right, but there are currently no drawings or approvals in place.

The $17,900,000 asking price equates to $333.86 per existing rentable square foot and a 4.8% capitalization rate on in-place NOI. Stabilized NOI is projected at $1,118,508, producing a 6.25% stabilized capitalization rate, while the seven-year analysis indicates a 20.07% leveraged IRR and a 12.67% unleveraged IRR without any expansion assumptions. With durable current cash flow, an affluent infill location, high barriers to new supply and exceptional expansion optionality, Extra Space - Franklin offers buyers a rare opportunity to acquire an irreplaceable self-storage asset with multiple clearly defined paths to meaningful value creation.