Listed by Franklin Street Tampa
$1,250,000
Evans Storage Development Site
Details
APN 066 069A
Property Type Land, Self Storage
Sub Type Commercial
Net Rentable (SqFt) 73,840
Units 680
NOI $238,944
Pro-Forma Cap Rate 8.75%
Pro-Forma NOI $928,296
Price Per Acre $227,687
Acreage 5.490
Zoning C-2
Self Storage Development | 5.49 acres
Investment highlights
- Self Storage Development Site With Plans to Build a "Class A" Facility in the Augusta, GA, MSA
- Property is Fully Approved for Self Storage Development, but General Commercial “C-2” Zoning Allows for a Multitude of Uses Including Day Care, Gym/Health Spa, Hotel, Restaurant, General Retail, and Many More
- Plans Call for a Three-Story Facility With a Bi-Level Basement Comprised of 680 Climate-Control Units Totaling 73,840 Net Rentable Square Feet
- Low Market Saturation Rate of 7.6 SF/Capita for Self Storage Within Five Miles of the Site
- Very Affluent Area Evidenced by an Average Household Income of $131,157 Within Three Miles of the Property
- Dense Population of 86,959 Residents Within Five Miles of the Property Growing at 2.2% Annually
- Over 50 Planned Residential Developments Totaling More Than 4,100 New Housing Units Within Ten Miles of the Site
- Evans is Located in Northern Georgia Just Across the South Carolina Border and Serves as a Suburb of Augusta
- The Augusta-Richmond County MSA is the 3rd Largest in the State of Georgia and is Home to 424,692 Residents
Listing Contacts
Listed by Franklin Street Tampa
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$238,944.00
$19,912.00/mo
Valuation Metrics
0
DSCR
19.12%
Cap Rate
19.12%
ROI
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