Self-Storage facilities around Hunstville. Saturated or growing ?

[Bharath Mun]

My partner and I are looking at self-storage facilities around HuntsVille area. I understand this asset class was hot few years ago. Is it too late to invest in this space ? 

I am mainly looking at outer areas such as Decatur, AL. On that point, I see Decatur population has ups & downs over past few years. Not sure what the reason was for the downward population until 2019. However, I see an uptick of numbers over past 2 years (assuming online census data is accurate).

Is it a good idea to buy commercial space such as storage facility in Decatur? If yes, any particular areas to absolutely avoid ?

[Laurie McGuire]

@Laurie McGuire

The market was terrible in Decatur just a few years ago. However overflow from Huntsville has changed that. Sadly the industrial plants along the Tn. River in Decatur have polluted the water so badly that it smells terrible and you can’t eat the fish from the River. Decatur has the highest crime rate in North Al. But that’s still a lower crime rate than most of the cities of its size in the nation.

As an investor specialist and investor myself I would not buy or steer clients there until the past two years. Decatur is a nice little city. I’m happy to say that I feel comfortable investing there now. I would still be careful of location. I will let you know if I am able to find storage units available to purchase.