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Warehouse

311 State Docks Rd.

311 State Docks Rd, Phenix City, AL 36869

Listing Price: $2,950,000

Cap Rate
7.02%
Gross SF
97,172
Price/Gross SF
$30.36
Lot Size
11.00 acres
Year Built
1978
Rentable SF
97,172

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire the property located at 311 State Docks Rd, a multi-tenant industrial property located in Phenix
City, Alabama, part of the Columbus, GA MSA. The property contains three buildings and is situated on 11 acres of land and resides about 2 Miles from Highway 280, and
3 miles from downtown Columbus, GA. The asset features a clear height of 20', 3 dock-high doors, and 12 grade-level doors. The property has ample outdoor storage.
Rents of $2.20/SF are significantly below market.
The Subject property comprises 97,172 square feet of industrial space and was constructed in 1978 (2016 renovation). Anchor tenant, Arizona-based AIMS Companies
(96% of total SF) is a nationally credited industrial, municipal, and utility service company that provides a range of services including: industrial cleaning, hydro
excavation, storm and pipe cleaning, etc. AIMS Companies has 18 facilities (including subject) nationwide to support thousands of customers ranging in size from
Fortune 50 to small local contractors. In 2016, The building underwent approximately $1 million of extensive renovations including metal panel walls, a fitness center
building, build-out for high-end office space, roof repair, five new overhead roll doors, and a new sprinkler system.
The purchase of this offering presents an investor with the opportunity to acquire a fully occupied industrial asset, well-positioned near Fort Moore (Formerly Fort
Benning) within the Columbus, GA with below-market rents and a national credit tenant. At the current list price of $2,950,000, the investment generates an in-place
NNN operating income of $207,126 with 3% annual increases.

Investment Highlights

  • --Buildings Total 97,172 SF, 20' Clear Height, Three Dock-High Doors and Twelve Grade-Level Doors
  • --Situated on 11 Acres of Land with Ample Outdoor Storage Space
  • -Below Market Rents Presents Opportunity for Upside at Lease Maturity
  • -NNN Leases with Minimal Landlord Responsibilities and Annual Increases
  • -Strong Demographics – Sustained Population Growth Across One, Five and Ten Mile Radius
  • Close Proximity to U.S. Army Base Fort Moore Which Supports Over 120,000 Military Personnel Daily

Exclusively Listed By

Warehouse

311 State Docks Rd.

Listing Price: $2,950,000

Cap Rate
7.02%
Gross SF
97,172
Price/Gross SF
$30.36
Lot Size
11.00 acres
Year Built
1978
Rentable SF
97,172

Investment Highlights

  • --Buildings Total 97,172 SF, 20' Clear Height, Three Dock-High Doors and Twelve Grade-Level Doors
  • --Situated on 11 Acres of Land with Ample Outdoor Storage Space
  • -Below Market Rents Presents Opportunity for Upside at Lease Maturity
  • -NNN Leases with Minimal Landlord Responsibilities and Annual Increases
  • -Strong Demographics – Sustained Population Growth Across One, Five and Ten Mile Radius
  • Close Proximity to U.S. Army Base Fort Moore Which Supports Over 120,000 Military Personnel Daily

Investment Overview

Marcus and Millichap is pleased to present the opportunity to acquire the property located at 311 State Docks Rd, a multi-tenant industrial property located in Phenix City, Alabama, part of the Columbus, GA MSA. The property contains three buildings and is situated on 11 acres of land and resides about 2 Miles from Highway 280, and 3 miles from downtown Columbus, GA. The asset features a clear height of 20', 3 dock-high doors, and 12 grade-level doors. The property has ample outdoor storage. Rents of $2.20/SF are significantly below market. The Subject property comprises 97,172 square feet of industrial space and was constructed in 1978 (2016 renovation). Anchor tenant, Arizona-based AIMS Companies (96% of total SF) is a nationally credited industrial, municipal, and utility service company that provides a range of services including: industrial cleaning, hydro excavation, storm and pipe cleaning, etc. AIMS Companies has 18 facilities (including subject) nationwide to support thousands of customers ranging in size from Fortune 50 to small local contractors. In 2016, The building underwent approximately $1 million of extensive renovations including metal panel walls, a fitness center building, build-out for high-end office space, roof repair, five new overhead roll doors, and a new sprinkler system. The purchase of this offering presents an investor with the opportunity to acquire a fully occupied industrial asset, well-positioned near Fort Moore (Formerly Fort Benning) within the Columbus, GA with below-market rents and a national credit tenant. At the current list price of $2,950,000, the investment generates an in-place NNN operating income of $207,126 with 3% annual increases.

Exclusively Listed By

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