MMJ Self Storage - Bowling Green, VA
About the Property:
- Purchased in December 2020.
- Initially featured 114 storage units and 20 parking spots.
- The expansion of the facility was completed in March 2023. The expansion added 96 storage units and an additional 25 parking spots.
- The facility is fully fenced and gated.
- There are security cameras throughout the property that are connected to the cloud.
- The gate is connected to our Easy Storage Software, giving each tenant their own individual gate code.
Since taking ownership, we have made several improvements to the property that has made it into one of our premier storage facilities. The first change we made was installing Easy Storage Solutions as the software for the storage facility. Easy Storage Solutions software serves multiple purposes. First, it provides a website that allows tenants to rent units, access their accounts, and make payments. This saves us time on the phones and increases our chances of renting units.
We also installed the Easy Storage Gate Software. The Easy Storage Gate connects directly to the software. It gives each tenant their own gate code. This allows us to see who goes in and out of the storage facility. It also allows us to lock tenants out if they are late on payment.
A new security camera system was also added to the facility. The new security cameras connect to the internet/cloud, giving us months of footage to go back to if needed. Not only can we see who uses their gate code, but we also have them on camera for extra security. The security measures we have added gives tenants peace of mind when they rent a storage unit.
Expansion & Storage Unit Mix
Due to high demand in the area, our storage units were consistently staying over 95% occupied. With the high demand, we deemed it necessary to expand the facility. The approval process took longer than expected, but we were able to finally break ground in September, 2022. In March, 2023 we received the certificate of occupancy, allowing us fill the new storage units.
The new build gave us an additional 13,500 square feet of storage. It also expanded our RV/Boat storage for an additional 25 parking spots. The 13,500 square feet of storage added 96 storage units ranging from 5x10s to 10x30s.
Location of Facility
Our Bowling Green Storage Facility is conveniently located along Route 301 (AP Hill Blvd). Being on a major roadway gives the property a lot of exposure. Many vehicles pass the facility daily.
Being on Route 301 gives tenants coming from other towns easy access to our facility. We attract a lot of tenants from Ruther Glen, King George, Thornburg, and even Fredericksburg to our facility. Being only 15 minutes away from two growing towns, King George and Ruther Glen, has allowed us to maintain a high occupancy on our storage units.
The convenience of being on Route 301 has also helped us attract RV storage tenants. Route 301 connects Maryland to Richmond, which is a popular RV route.
MMJ Self Storage in Bowling Green is approved for two more storage buildings. We are in the lease up period with the current new buildings. However, we may decide in the future to move forward with adding the new two buildings. These new storage buildings would give us an additional 12,000 square feet of storage.
The new storage units would focus on the sizes that are in high demand in the area. Contractor/Business storage is of high demand. Due to this, our large 10×30 storage units rent quickly.