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Extra Space Storage (Managed)
2440 Mackinwood Drive, Lexington, Kentucky 40510
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Property Info
Price: $8,800,000
Units: 356
Year Built: 2008-2025
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Download Marketing Package
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Broker Contact Info
Gabriel Coe
614.360.9041
Gabriel.Coe@marcusmillichap.com
Opportunity
The Market
Investment
Map
Lexington, Kentucky Self-Storage Offering with Upside
POPULATION
In 2024, the population in your selected geography is 136,628. The population has changed by 6.16 percent since 2010. It is estimated that the population in your area will be 138,942 five years from now, which represents a change of 1.7 percent from the current year. The current population is 50.2 percent male and 49.8 percent female. The median age of the population in your area is 36.0, compared with the U.S. average, which is 39.0. The population density in your area is 1,738 people per square mile.
HOUSEHOLDS
There are currently 56,700 households in your selected geography. The number of households has changed by 10.64 percent since 2010. It is estimated that the number of households in your area will be 58,098 five years from now, which represents a change of 2.5 percent from the current year. The average household size in your area is 2.2 people.
INCOME
In 2024, the median household income for your selected geography is $67,989, compared with the U.S. average, which is currently $76,141. The median household income for your area has changed by 73.78 percent since 2010. It is estimated that the median household income in your area will be $74,022 five years from now, which represents a change of 8.9 percent from the current year.
The current year per capita income in your area is $36,050, compared with the U.S. average, which is $40,471. The current year’s average household income in your area is $85,336, compared with the U.S. average, which is $101,307.
EMPLOYMENT
In 2024, 74,281 people in your selected area were employed. The 2010 Census revealed that 61.8 percent of employees are in white-collar occupations in this geography, and 17 percent are in blue-collar occupations. In 2024, unemployment in this area was 4.0 percent. In 2010, the average time traveled to work was 20.00 minutes.
HOUSING
The median housing value in your area was $292,951 in 2024, compared with the U.S. median of $321,016. In 2010, there were 26,797.00 owner-occupied housing units and 24,450.00 renter-occupied housing units in your area.
EDUCATION
The selected area in 2024 had a lower level of educational attainment when compared with the U.S averages. 41.3 percent of the selected area’s residents had earned a graduate degree compared with the national average of only 13.5 percent, and 6.8 percent completed a bachelor’s degree, compared with the national average of 21.1 percent.
The number of area residents with an associate degree was higher than the nation’s at 12.9 percent vs. 8.8 percent, respectively.
The area had fewer high-school graduates, 1.5 percent vs. 26.2 percent for the nation, but the percentage of residents who completed some college is higher than the average for the nation, at 25.4 percent in the selected area compared with the 19.7 percent in the U.S.
• Lexington, Kentucky Self-Storage Offering with Upside
• 68,450 Net Rentable Square Feet
• 119 Climate Controlled Units, 164 Non-Climate Controlled Units, 73 Covered Parking Spaces, and 39 Uncovered Parking Spaces
• Recently Completed Expansion in July 2025
• Over $2M in Capital Improvements and Expansion Since Acquiring the Property in Q1 2024
• Gross Income has Increased More than 270% Over the Past 24 Months, with Occupancy Improving from Approximately 20% to 85%
• Income Continues to Grow Rapidly as the Expansion Leases Up and Discounted Legacy Rental Rates Return to Market
• Strong Historical Occupancy Rates: Currently 85.06% Physically Occupied
• Easily Accessible & Conveniently Located Near the Intersection of US-421 & KY-4
• Dense & Growing Surrounding Population: 136,628 People Living Within a Five Mile Radius Which Represents Over a 6% Increase Since 2010 and is Expected to Continue Growing
• Located Nearby Numerous Residential Neighborhoods, Restaurants, National Retail Brands, Businesses, and More
