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2016 W Garner Rd 29,920 SF Specialty Building Offered at $2,300,000 at a 8.63% Cap Rate in Garner, NC 27529
INVESTMENT HIGHLIGHTS
- Immediate Cash Flow with Upside
- Additional Income from Auto Repair Shop
- Expansion Possibilities
- Value-Add Opportunity
- Strong Demand Drivers
EXECUTIVE SUMMARY
FINANCIAL SUMMARY (ACTUAL - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$240,828
|
$8.05
|
| Other Income |
-
|
-
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$240,828
|
$8.05
|
| Taxes |
$11,439
|
$0.38
|
| Operating Expenses |
$30,910
|
$1.03
|
| Total Expenses |
$42,349
|
$1.42
|
| Net Operating Income |
$198,479
|
$6.63
|
FINANCIAL SUMMARY (ACTUAL - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $240,828 |
| Annual Per SF | $8.05 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $240,828 |
| Annual Per SF | $8.05 |
| Taxes | |
|---|---|
| Annual | $11,439 |
| Annual Per SF | $0.38 |
| Operating Expenses | |
|---|---|
| Annual | $30,910 |
| Annual Per SF | $1.03 |
| Total Expenses | |
|---|---|
| Annual | $42,349 |
| Annual Per SF | $1.42 |
| Net Operating Income | |
|---|---|
| Annual | $198,479 |
| Annual Per SF | $6.63 |
PROPERTY FACTS
| Price | $2,300,000 | Lot Size | 2.35 AC |
| Price Per SF | $76.87 | Building Size | 29,920 SF |
| Sale Type | Investment or Owner User | No. Stories | 1 |
| Cap Rate | 8.63% | Year Built | 1971 |
| Sale Condition | Business Value Included | Parking Ratio | 0.4/1,000 SF |
| Property Type | Specialty | Cross Streets | Tryon Rd |
| Property Subtype | Self-Storage | Opportunity Zone |
Yes
|
| Building Class | B | ||
| Zoning | LI - Light Industrial (Town of Garner) | ||
| Price | $2,300,000 |
| Price Per SF | $76.87 |
| Sale Type | Investment or Owner User |
| Cap Rate | 8.63% |
| Sale Condition | Business Value Included |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 2.35 AC |
| Building Size | 29,920 SF |
| No. Stories | 1 |
| Year Built | 1971 |
| Parking Ratio | 0.4/1,000 SF |
| Cross Streets | Tryon Rd |
| Opportunity Zone |
Yes |
| Zoning | LI - Light Industrial (Town of Garner) |
AMENITIES
- Signage
ABOUT 2016 W GARNER RD , GARNER, NC 27529
Garner Mini-Storage is comprised of 273 units totaling 27,664 SF. Occupancy is 87%. The 42 “vacant” units all either need repairs or are owner occupied. Each of the units is a detached, free-standing structure with a hinged door. Unit sizes are 8x10, 8x12, 8x16, 8x20, and 8x24. The offering also includes a 2,256 SF, four-bay auto repair shop leased to North Auto Repair. The facility is currently self-managed. The facility is marketed via exterior signage and word of mouth. Tenants pay rent via cash, check, money orders, and credit cards. Credit card payments are facilitated using Payanywhere. All leases are month to month and include a security deposit, late fees, and other administrative fees. The Lease template can be shared with a signed confidentiality agreement. A typical unit turn involves metal caulking (if any holes exist) and cleaning.
PROPERTY TAXES
| Parcel Numbers | Total Assessment | $1,106,825 | |
| Land Assessment | $881,076 | Annual Taxes | $11,439 ($0.38/SF) |
| Improvements Assessment | $225,749 | Tax Year | 2025 |
PROPERTY TAXES
Presented by
2016 W Garner Rd
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