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104 Parsonage St 55,500 SF Industrial Building Mc Rae, GA 31055 $890,000 ($16.04/SF)
Investment Highlights
- NOI: $115,384.50
- 2-acre fenced truck parking
- 4 dock-high doors
- Phase-I & Phase-II completed (12/2022)
Executive Summary
This 55,500 SF warehouse includes a 3,000 square foot loading zone equipped with 4 dock high doors, and approximately 2-acres of truck parking. The building has a small office space of approximately 438 SF. Property is completely enclosed with a chain link fence with razor wire for extra security. Building is completely sprinkled and power is 3-Phase. Seller has made many upgrades to the property. Clear height is 18' in center to beam, and 12' on eaves.
A tenant has been procured and lease executed with a 2 year net industrial lease, expiring 10/31/2026 with month-to-month renewal option. The Net Operating Income is $115,384.50 which includes a 10% Repair and Maintenance contingency which leaves the CAP rate at 12.96%.
A tenant has been procured and lease executed with a 2 year net industrial lease, expiring 10/31/2026 with month-to-month renewal option. The Net Operating Income is $115,384.50 which includes a 10% Repair and Maintenance contingency which leaves the CAP rate at 12.96%.
Taxes & Operating Expenses (Actual - 2023) |
Annual | Annual Per SF |
|---|---|---|
| Taxes |
$1,665
|
$0.03
|
| Operating Expenses |
$8,880
|
$0.16
|
| Total Expenses |
$10,545
|
$0.19
|
Taxes & Operating Expenses (Actual - 2023)
| Taxes | |
|---|---|
| Annual | $1,665 |
| Annual Per SF | $0.03 |
| Operating Expenses | |
|---|---|
| Annual | $8,880 |
| Annual Per SF | $0.16 |
| Total Expenses | |
|---|---|
| Annual | $10,545 |
| Annual Per SF | $0.19 |
Property Facts
| Price | $890,000 | No. Stories | 1 |
| Price Per SF | $16.04 | Year Built | 1975 |
| Sale Type | Owner User | Tenancy | Single |
| Property Type | Industrial | Parking Ratio | 0.09/1,000 SF |
| Property Subtype | Distribution | Clear Ceiling Height | 18’ |
| Building Class | B | No. Dock-High Doors/Loading | 4 |
| Lot Size | 3.74 AC | No. Drive In / Grade-Level Doors | 1 |
| Rentable Building Area | 55,500 SF | Opportunity Zone |
Yes
|
| Zoning | I3 | ||
| Price | $890,000 |
| Price Per SF | $16.04 |
| Sale Type | Owner User |
| Property Type | Industrial |
| Property Subtype | Distribution |
| Building Class | B |
| Lot Size | 3.74 AC |
| Rentable Building Area | 55,500 SF |
| No. Stories | 1 |
| Year Built | 1975 |
| Tenancy | Single |
| Parking Ratio | 0.09/1,000 SF |
| Clear Ceiling Height | 18’ |
| No. Dock-High Doors/Loading | 4 |
| No. Drive In / Grade-Level Doors | 1 |
| Opportunity Zone |
Yes |
| Zoning | I3 |
Amenities
- Fenced Lot
- Front Loading
- Signage
Utilities
- Lighting
- Gas
- Water
- Sewer
- Heating
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104 Parsonage St
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