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Industrial Property For Sale

Colonial Storage Center

2990 Pio Nono Ave, Macon, GA 31206

Price:
$1,200,000
Building Size:
28,538 SF
Price/SF:
$42.05
Property Type:
Industrial
Property Sub-type:
Self/ Mini-Storage Facility
Property Use Type:
Investment
Cap Rate:
8.10%
Occupancy:
81%
Tenancy:
Multiple
Lot Size:
1.72 AC
Features:
- Fenced Yard

Last Verified 6/7/2009 Listing ID 15833077

Highlights

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

Sturdy Concrete Block Buildings
Significant Upside Potential
Consistently High Occupancy

Description

Colonial Storage Center is a well located and highly visible well established facility offering 220 units and 26,962 RSF on 1.72 +/- acres. It is comprised of four sturdy concrete block self storage buildings, an attached rental office and an on-site apartment. With good visibility from US Hwy 41/GA Hwy 247 along with traffic counts exceeding 18,000 vehicles per day, this property is well positioned to respond to a focused management effort. At $44.50 per RSF, this property is priced at or below replacement value. Based upon projections, at 96% Occupancy this property represents an 11.8% capitalization rate in year 7 even factoring in an additional capital investment of $50,000.

Colonial Storage Center is located on US-41/GA-247 (Pio Nono Avenue), in Macon, GA.

Attachments

Flyer(129 KB)
Midcoast Properties, Inc.

Financial Summary

Proforma
Year
2008
Net Operating Income
$97,532

Map of 2990 Pio Nono Ave, Macon, GA 31206 (Bibb 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 2990 Pio Nono Avenue, Macon, GA 31206

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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