Storage Depot of Douglasville Specialty FOR SALE


Douglasville, GA
$4,150,000 USD
678-576-1780
, Douglasville, GA for Sale
$4,150,000 USD
Specialty - FOR SALE
1/5
null | 7.09% Cap Rate

Storage Depot of Douglasville
Douglasville, GA


HIGHLIGHTS

  • Frontage and access off of Fairburn Road – seeing over 33,000 vehicles per day
  • Solid population surrounding the facility with over 43,000 people living in a 3-mile radius and steady population growth
  • Opportunity to cut expenses – owners are currently employing a third-party management company on a sub-30,000 SF facility
  • Below market asking rents across the self-storage units
  • 33 different proposed residential developments within a 5-mile radius estimated at over $1B in value in the pipeline currently
  • Very attractive day-1 cap rate of 7.10%, with upside still remaining

OVERVIEW

Located in Douglasville, GA approximately 20-miles west of downtown Atlanta - this facility totals ±28,035 rentable square feet of self-storage, 43 outdoor parking spaces, and 6 retail suites totaling ±5,848 SF. The storage units are currently 80% occupied, while two of the six retail suites are vacant and present additional upside post-closing by leasing that space to another small business. Multiple retail leases could be restructured right now as well as they are on month-to-month leases currently. The property is currently producing $294,380 in Net Operating Income annually, with projected Year 2 NOI of $346,826 upon improving occupancy of the self-storage units, as well as leasing the two vacant retail suites, and Year 4 NOI of $378,015. Please contact listing agent for pricing guidance and access to additional financials. BROKER OF RECORD BILL PEDERSEN LICENSE NO. 80041 (GA) Matthews Real Estate Investment Services, Inc 1600 West End, Ste. 1500 Nashville, TN 37203

ASK ABOUT THIS PROPERTY

Austin McLeodMatthews Real Estate Investment ServicesMore Info
678-576-1780

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Austin McLeodMatthews Real Estate Investment ServicesMore Info
678-576-1780

By clicking the button, you agree to Showcase's Terms of Use and Privacy Policy.