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920 Magnolia Ln - Prices Fork Self Storage 19,786 SF Specialty Building Offered at $1,575,000 at a 8.39% Cap Rate in Christiansburg, VA 24073
Investment Highlights
- Attractive in-place cap rate of 8.39% on trailing-12 NOI with a projected year 3 cap rate of 12.26%.
- Located 5 miles from Virginia Tech and Radford University which have a combined enrollment of over 45,000 students.
- Approximately 1 acre included for future expansion opportunity.
- ±4.65 square feet per capita within the 3-mile and 5-mile trade areas.
- Upside through professional management and lease-up - the facility is currently operated by a mom-and-pop owner.
- The Blacksburg-Christiansburg-Radford MSA is currently the 2nd fastest-growing MSA in Virginia by GDP growth.
Executive Summary
Kyle Matthews
Matthews Real Estate Investment Services, Inc
License # 226035518, 225225982 (VA)
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Matthews Real Estate Investment Services, Inc
License # 226035518, 225225982 (VA)
1600 West End Ave, Ste. 1500 Nashville, TN 37203
(866) 889-0550
Property Facts
| Price | $1,575,000 | Property Subtype | Self-Storage |
| Price Per SF | $97.66 | Building Class | C |
| Sale Type | Investment | Building Size | 16,127 SF |
| Cap Rate | 8.39% | No. Stories | 2 |
| Property Type | Specialty | Year Built | 1980 |
| Zoning | General Business | ||
| Price | $1,575,000 |
| Price Per SF | $97.66 |
| Sale Type | Investment |
| Cap Rate | 8.39% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Building Size | 16,127 SF |
| No. Stories | 2 |
| Year Built | 1980 |
| Zoning | General Business |
Amenities
- Signage
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Property Taxes
| Parcel Number | 022027 | Improvements Assessment | $560,500 |
| Land Assessment | $154,100 | Total Assessment | $714,600 |
Property Taxes
Parcel Number
022027
Land Assessment
$154,100
Improvements Assessment
$560,500
Total Assessment
$714,600
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920 Magnolia Ln - Prices Fork Self Storage
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