= Required Field.

Already a Member?

Email Address:

Password:

Re-Enter Password:

First Name:

Last Name:

Country:

Zip/Postal Code:

Ext.

Day Phone:

No Thanks.

By clicking the button above, you are indicating that you have read, understood, and agree to LoopNet's Terms and Conditions.

We will NOT share your email address.
View Our Privacy Policy.

Industrial Property For Sale

Colonial Storage Center

1604 Camp Lane, Albany, GA 31707

Price:
$900,000
Building Size:
37,264 SF
Price/SF:
$24.15
Property Type:
Industrial
Property Sub-type:
Self/ Mini-Storage Facility
Property Use Type:
Investment
Cap Rate:
8.70%
Occupancy:
70%
Tenancy:
Multiple
Year Built:
1978
Lot Size:
1.94 AC

Last Verified 6/7/2009 Listing ID 15832670

Highlights

Priced At or Below Replacement Cost
Well Established
Significant Upside Potential

On Site Apartment
On Site Rental Office
Vented Units/Buildings

Description

Colonial Storage Center is a well located and highly visible established facility offering 285 units and 33,552 RSF on 1.94 +/- acres. It is comprised of five sturdy concrete block self storage buildings with an attached rental office and on-site apartment. This property is well positioned to respond to a focused management effort. At $29.06 per RSF, the property is priced well below replacement cost. Based upon projections, upon reaching 85% Occupancy, this property is priced at a 14.2% capitalization rate in year 7 even factoring in an additional capital investment of $100,000.

This proprty is located in the heart of Albany, Georgia which is situated in Southwest Georgia.

Attachments

Flyer(118 KB)
Midcoast Properties, Inc.

Financial Summary

Proforma
Year
2008
Scheduled Gross Income
$188,940
Effective Gross Income
$126,724
Operating Expenses
$49,340
Net Operating Income
$77,384

Map of 1604 Camp Lane, Albany, GA 31707 (Dougherty County)

Hide Map

Presented by

Midcoast Properties, Inc.

Request additional information

Contact Listing Broker

Dale C. Eisenman, CCIM (843) 342-7650

Track changes to this property: Watch This Property
Share this listing: Send to Friend; Link to This Listing

Link
Copy the link above and share via email or IM.; Embed This on Your Web Site; Share on Facebook; Share on LinkedIn; Share on Twitter
Additional options: Add a Note; Print Listing; View Map; Demographics; Research Price

Created 8/4/2008

Additional Information for 1604 Camp Lane, Albany, GA 31707

Active For Sale - 1 Listing
Active For Lease - 0 Listing
Previously Listed - 0 Historic Listing
Sales Comparables Available - 0 RecentSales Record

View additional information for the property view other currently active listings, previous listings, sales comparables, public records, and county records data for this address.

The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.

Embed this Listing on Your Website

#1 in Commercial Real Estate Online