Marcus & Millichap (NYSE: MMI), a leading commercial real estate investment services firm with offices throughout the United States and Canada, today announced the sale of AAA Mini Storage and A1 Mini Storage, a 29,500 net rentable square foot self storage operation with 296 units combined located in Durham, NC. The facilities were sold for $1.95 million at a 7.46% cap rate.
AAA Mini Storage and A1 Mini Storage are located within 0.50 miles of one another with one property acting as a satellite location with additional units. Located on 8.36 acres, there is a population of 122,000 within a five-mile radius. Additionally, there are 4 acres of land available for expansion.