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34306027
34306028

1020 Appalachian Highway, Blue Ridge, GA 30513 For Sale

AM
GA 394903, FL SL3600044
Matthews
Listed by Matthews
$9,100,000
8 days on market
Updated 8 days ago

1020 & 5171 Appalachian Hwy, Blue Ridge, GA 30513

Details
Property Type Self Storage
Square Footage 120,313
Units 744
Cap Rate 4.40%
NOI $400,041
Price per SqFt $76
Year Built 1983
Year Renovated 2023
Acreage 12.180

Two-Property Self-Storage Portfolio with Major Lease-Up Upside in Blue Ridge, GA

Investment highlights

• 120,313 net rentable square feet across two facilities located within five miles of one another

• Recently expanded, presenting lease-up upside in taking occupancy from 50% to 90%

• Significant value-add opportunity through the implementation of professional management, as both properties are currently owner-operated

• Minimal climate-controlled supply / competition in the immediate trade area

• Current ownership only spends $1,000 per year in advertising, creating opportunity to implement a marketing gameplan to lease vacant units

• Fannin County issued 390 new residential building permits in 2024, supporting continued population growth

• Blue Ridge is a popular vacation destination with hundreds of second homes, mostly owned by wealthier individuals from Atlanta and North Carolina / South Carolina

• Very attractive basis for this product at only $75 per rentable foot at List Price, especially with nearly half of the portfolio being climate controlled

• Favorable property tax rates in Fannin County. Projecting very minimal increases to taxes following the sale

• Expansion opportunity included as well with a little bit of vacant land still remaining

• New Publix under development nearby these locations

Listing Contacts

AM
GA 394903, FL SL3600044
Matthews
Listed by Matthews

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$400,041.00
$33,336.75/mo

Valuation Metrics

0
DSCR
4.4%
Cap Rate
4.4%
ROI

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Additional Information

Name
Maxx Bauman
License
451849, 80041 (GA)
Brokerage
Matthews Real Estate Investment Services, Inc
Brokerage Phone
(866) 889-0550
Title
Broker of Record
Brokerage Address
3060 Peachtree Rd NW, Ste 1450, Atlanta, GA 30305
Name
Austin McLeod
License
394903
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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