Are you seeking to get started in the Self Storage industry with a Value Add opportunity? Three(3) block construction buildings on a fenced-in lot of 1.26 acres, 90 rental units, on-site housing for management, and an affiliate relationship with UHaul. Doesn't get much better than that!
Property is located just outside the heart of Downtown Hinesville, GA and is only ten(10) minutes away from the Fort Stewart Army Base. To date, this property has been under marketed online (no reputation; good OR bad) and yet is 67.78% occupied as of this writing. Presently, tenancy is derived solely from word-of-mouth referral and top of mind recognition within the neighborhood as the Owner doesn't use/pay for any formal marketing/advertising (at all).
Owner discloses that he consistently leases usable inventory below that of industry standard rates and local competitors within his market; cites positive community involvement and fosterment of general goodwill as his reasonings. Despite this - as of now the property is on track to clear in excess of a projected $32,000 of gross annual sales. These figures do not include the Year-To-Date (YTD) commissions of over $10,000 generated from the UHaul Dealer partnership. This revenue is a separate line item on the company financials.
The buildings were constructed in 1978 (tax records log an effective year of 1985) and should you decide that you wish to expand the overall inventory? You would have to build upwards as opposed to outwards. Parcel is also classified as a Special Flood Hazard Area (SFHA) which will require an additional insurance policy if purchased under a mortgage arrangement.
On site living quarters. 400 sq.ft., 1 Bed, 1 Bath (shower only), small kitchenette, and living/dining area combo. Ask your lender about FHA or SBA financing options and Score This Extraordinary Property Before Someone Else Does!
---------
Disclaimer: The information contained herein has been obtained through sources deemed reliable but cannot be guaranteed as to its accuracy. Any information of special interest should be obtained through independent verification.
---------
