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Colonial Storage Center 
2990 Pio Nono Ave
 Macon, GA 31206
County: Bibb
 
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:28,538 SF
Lot Size:1.72 Acres
Occupancy:81.00%
Price:$1,200,000
Price/SF:$42.05
Cap Rate:8.10%
Date Last Verified:11/9/2008
Property ID:15833077
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Flyer 128 KB
 
 Additional Information 

Property Description:
Colonial Storage Center is a well located and highly visible well established facility offering 220 units and 26,962 RSF on 1.72 +/- acres. It is comprised of four sturdy concrete block self storage buildings, an attached rental office and an on-site apartment. With good visibility from US Hwy 41/GA Hwy 247 along with traffic counts exceeding 18,000 vehicles per day, this property is well positioned to respond to a focused management effort. At $44.50 per RSF, this property is priced at or below replacement value. Based upon projections, at 96% Occupancy this property represents an 11.8% capitalization rate in year 7 even factoring in an additional capital investment of $50,000.

Location Description:
Colonial Storage Center is located on US-41/GA-247 (Pio Nono Avenue), in Macon, GA.

Fenced Yard:Yes
 Highlights 
•Priced At or Below Replacement Value•On Site Rental Office
 
•On Site Apartment•Sturdy Concrete Block Buildings
 
•Significant Upside Potential•Consistently High Occupancy
  Financial Summary Proforma  
Year:2008
Net Operating Income:$97,532
 
  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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