Dawg House Storage

Property Address: 9722 MS-25, Starkville, MS 39759

Oakside, together with Jennifer Stein Real Estate, is pleased to present Dawg House Storage, a 312-unit, 40,129 NRSF self-storage facility located at 9722 MS-25 in Starkville, MS, the seat of Oktibbeha County and the largest city and commercial center of the Golden Triangle. Set on 3.7 acres, the property was built in 2014 and expanded in 2024, and offers 187 interior climate-controlled units, 121 drive-up non-climate units, and an on-site apartment converted from space behind the office. Currently 78.8% physically occupied (82.3% by area) but only 50.2% economically occupied under a lightly staffed, locally managed operation, the asset delivers investors in-place cash flow alongside one of the widest value-add spreads available in a university-anchored storage market.

INVESTMENT HIGHLIGHTS

• Roughly 28-point spread between physical and economic occupancy, reflecting below-market, under-collected in-place rents, which hands a new owner a clear, executable path to lift NOI from ~$247K (T-8 annualized) toward $345K by Year 2 and $400K+ by Year 5 through professionalized management and revenue systems
• In-place rents trail market by ~27% portfolio-wide, with drive-up units roughly 37% under, climate-controlled units ~19% under, and the 10x20 drive-up product about 41% below market, providing substantial embedded pricing power as rates are stepped to market
• Dual lease-up and repricing opportunity within the premium climate-controlled product, where the 10x10 and 10x15 units sit at only 58% occupancy, while waiting lists have already formed on several of the facility's most popular unit sizes
• Anchored by Mississippi State University, the state's flagship land-grant research institution, which reached record enrollment of 23,563 students in fall 2025, creating a large, continuously replenishing base of students, faculty, and staff that drives recurring academic-year move-in/move-out demand
• Diversified Golden Triangle economy and prime retail positioning, with regional employment anchored by Airbus Helicopters, Steel Dynamics, Yokohama Tire, and Columbus Air Force Base, and the site fronting the MS-25 / U.S. 82 corridor among national retailers including Walmart, Lowe's, and Kroger, supported by a 5-mile population of 26,148 and median household incomes of $51,525 and $59,698 within 3 and 5 miles
• Institutional-quality, durable construction featuring precast concrete tilt-up load-bearing walls, a 50-year standing-seam metal roof, 4" reinforced slab-on-grade floors, and automatic keypad-gated access, a storm-resilient, low-capex asset that lets a buyer focus on operations rather than near-term capital projects
• Identified on-site expansion potential, giving a buyer a second growth lever beyond the rate-and-occupancy story through the ability to add rentable square footage and income on land already owned, further improving basis and long-term returns