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Colonial Storage Center 
4155 Milgen Road
 Columbus, GA 31907
County: Muscogee
 
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:26,200 SF
Lot Size:1.58 Acres
Occupancy:76.00%
Price:$925,000
Price/SF:$35.31
Cap Rate:8.20%
Date Last Verified:11/9/2008
Property ID:15832711
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Flyer 146 KB
 
 Additional Information 

Property Description:
Colonial Storage Center is a well located and highly visible well established facility offering 209 units and 24,624 RSF on 1.585 +/- acres. With good visibility from Hwy 85 and Milgen Road along with traffic counts exceeding 13,000 vehicles per day, this property is well positioned to respond to a focused management effort. At $37.56 per RSF, this property is priced at or below replacement value. Based upon projections, at 85% Occupancy starting in year 4, this property represents a 9.9% capitalization rate growing to 11.4% by year 7 even factoring in an additional capital investment of $100,000.

Location Description:
Colonial Storage Center located just east of I-185 and the Columbus Metropolitan Airport.

Fenced Yard:Yes
 Highlights 
•Priced At or Below Replacement Value•On Site Apartment
 
•On Site Rental Office•Significant Upside Potential
 
•Sturdy Concrete Block Buildings•Electronic Gate
  Financial Summary Actual  
Net Operating Income:$75,850
 
  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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