Listed by Matthews
$3,525,000
Athens Lock Storage Portfolio
Details
Property Type Self Storage
Square Footage 39,350
Units 400
Cap Rate 6.04%
NOI $213,057
Occupancy 87%
Tenancy Multi
Pro-Forma Cap Rate 8.24%
Pro-Forma NOI $290,493
Price per SqFt $90
Year Built 1988
Year Renovated 2008
Buildings 14
Stories 1
Acreage 7.190
Parking Spaces 32
Investment Type Stabilized
Athens Lock Storage: 400-Unit Self-Storage Facility with Expansion Land
Marketing description
Rolling Offers (first come first serve)
Investment highlights
• 87% unit occupancy and 90% square foot occupancy, with economic occupancy at 93%
• In-place rents remain below nearby competitors
• Expansion land included at the Danielsville Road location
• Zero new self-storage developments planned or under construction in the immediate trade area (according to TractIQ)
• Anchored by the University of Georgia with total enrollment of 43,888 students – one of the largest public universities in the Southeast
• Substantial residential development underway throughout all of Athens
Listing Contacts
Listed by Matthews
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$213,057.00
$17,754.75/mo
Valuation Metrics
0
DSCR
6.04%
Cap Rate
6.04%
ROI
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