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Industrial Property For Sale

Colonial Storage Center

4155 Milgen Road, Columbus, GA 31907

Price:
$775,000
Building Size:
26,200 SF
Price/SF:
$29.58
Property Type:
Industrial
Property Sub-type:
Self/ Mini-Storage Facility
Property Use Type:
Investment
Cap Rate:
8.20%
Occupancy:
76%
Tenancy:
Multiple
Lot Size:
1.58 AC
Features:
- Fenced Yard

Last Verified 6/7/2009 Listing ID 15832711

Highlights

Priced At or Below Replacement Value
On Site Apartment
On Site Rental Office

Significant Upside Potential
Sturdy Concrete Block Buildings
Electronic Gate

Description

Colonial Storage Center is a well located and highly visible well established facility offering 209 units and 24,624 RSF on 1.585 +/- acres. With good visibility from Hwy 85 and Milgen Road along with traffic counts exceeding 13,000 vehicles per day, this property is well positioned to respond to a focused management effort. At $37.56 per RSF, this property is priced at or below replacement value. Based upon projections, at 85% Occupancy starting in year 4, this property represents a 9.9% capitalization rate growing to 11.4% by year 7 even factoring in an additional capital investment of $100,000.

Colonial Storage Center located just east of I-185 and the Columbus Metropolitan Airport.

Attachments

Flyer(147 KB)
Midcoast Properties, Inc.

Financial Summary

Actual
Net Operating Income
$75,850

Map of 4155 Milgen Road, Columbus, GA 31907 (Muscogee County)

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Presented by

Midcoast Properties, Inc.

Request additional information

Contact Listing Broker

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

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Created 8/4/2008

Additional Information for 4155 Milgen Road, Columbus, GA 31907

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.

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