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Colonial Storage Center 
1604 Camp Lane
 Albany, GA 31707
County: Dougherty
 
Dale C. Eisenman, CCIM
(843) 342-7650
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  For Sale Active  
Property Use Type:Investment
Type:Industrial
Self/Mini-Storage Facility
Building Size:37,264 SF
Lot Size:1.94 Acres
Occupancy:70.00%
Price:$975,000
Price/SF:$26.16
Cap Rate:8.70%
Year Built:1978
Date Last Verified:11/9/2008
Property ID:15832670
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Flyer 116 KB
 
 Additional Information 

Property Description:
Colonial Storage Center is a well located and highly visible established facility offering 285 units and 33,552 RSF on 1.94 +/- acres. It is comprised of five sturdy concrete block self storage buildings with an attached rental office and on-site apartment. This property is well positioned to respond to a focused management effort. At $29.06 per RSF, the property is priced well below replacement cost. Based upon projections, upon reaching 85% Occupancy, this property is priced at a 14.2% capitalization rate in year 7 even factoring in an additional capital investment of $100,000.

Location Description:
This proprty is located in the heart of Albany, Georgia which is situated in Southwest Georgia.

 Highlights 
•Priced At or Below Replacement Cost•Well Established
 
•Significant Upside Potential•On Site Apartment
 
•On Site Rental Office•Vented Units/Buildings
  Financial Summary Proforma  
Year:2008
Scheduled Gross Income:$188,940
Effective Gross Income:$126,724
Operating Expenses:$49,340
Net Operating Income:$77,384
 
  Major Tenant Information
Tenancy Type: Multiple
 
 
  Debt & Equity Information
No Debt & Equity Information Provided

8/4/2008
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The information above has been obtained from sources believed reliable. While we do not doubt its accuracy we have not verified it and make no guarantee, warranty or representation about it. It is your responsibility to independently confirm its accuracy and completeness. Any projections, opinions, assumptions, or estimates used are for example only and do not represent the current or future performance of the property. The value of this transaction to you depends on tax and other factors which should be evaluated by your tax, financial, and legal advisors. You and your advisors should conduct a careful, independent investigation of the property to determine to your satisfaction the suitability of the property for your needs.
 
 
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