Self Storage Brothers

• Recently converted, majority climate-controlled self-storage facility
• Very attractive basis at $75 per rentable square foot
• Three commercial warehouse spaces all currently leased to small businesses, generating $96k per year
• Projected 5-Year Levered IRR north of 21%. Yield-on-Cost projected north of 9.6% in Year 4 and 10.64% Year 4 Cap Rate
• Solid YTD leasing activity despite spending minimal advertising dollars each month
• Airbus took direct ownership of the 500,000 SF Kinston aerostructures plant in December 2025 and has since doubled headcount to approximately 1,000 employees
• Fleet Readiness Center East is building a $450–500M, 700,000+ SF C-130/HH-60W Navy Depot maintenance complex at the Global TransPark, adding approximately 450 jobs
• The region announced 738 jobs and $262M in investment in 2025, including Electrolux ($23.7M, 74 jobs) and Cardon Rehabilitation’s first U.S. plant, both located in Kinston.
• The 2,500-acre Global TransPark, home to North Carolina’s longest runway, drives $781M in annual output, approximately 3,000 jobs, and $66K average wages versus $46K countywide.
• MCAS Cherry Point (45 mi) and Seymour Johnson AFB (30 mi) form a 15,000-person military demand base that drives recurring PCS-cycle storage demand; Seymour Johnson was named the F-15EX recipient in August 2026.
• The market has zero REIT competition and zero new supply in the last two years. There are also no institutional operators within 10-miles of the site.At 44,325 SF, the subject is the largest available asset in the market, trailing only Brooks Mini Storage, whose facilities also hold the #2 and #3 positions.
• Downtown Kinston has attracted $150M+ in private investment, anchored by Mother Earth Brewing, Chef & the Farmer, and the O’Neil Hotel, and is now advancing a city-approved master plan and riverwalk.