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Self-Storage Facility

Macon Storage Center

5410 Hawkinsville Rd, Macon, GA 31216

Listing Price: $600,000

Cap Rate
5.95%
Number of Units
150
Occupancy
67.0%
Gross SF
21,475
Rentable SF
21,475
Price/Rentable SF
$27.94
Year Built
1970

Investment Overview

Marcus & Millichap is proud to exclusively offer Macon Storage Center, located at 5410 Hawkinsville Road, Macon Georgia.

Macon Storage Center consists of 150 non-climate controlled units within 21,475 rentable square feet on approximately 1.6 acres. The facility was built in the 1970s, is paved, fenced and gated with controlled/keypad access. Other amenities include a leasing office and security cameras with monitoring system. Over the past four to five years, the property has undergone renovations that include a new fence and gate system, all new roll-up and swing doors, roof replacement on the back building and a renovated office.

The owner replaced the 3rd party management in 2020 and has seen the square foot occupancy jump from 48 percent to 78 percent (June 2020 vs June 2021) and a 50 percent jump in income. The economic occupancy is still around 67 percent, offering a lot of upside for the next owner.

Offered at $600.000, or $27.94 per square foot, Macon Storage Center presents an opportunity for an investor to acquire a value-add investment that proves that good management and answering the phone pay off. By increasing street rates to market and continuing to lease up, this asset is expected to reward its investor with a cay rate of 8.06 within the first year and a stabilized cap rate of 10.73 percent. Attractive debt options are available rewarding the investor with 13 percent cash on cash return (year 1) and north of 22 percent by the end of the second year.

Investment Highlights

  • Value Add Opportunity
  • 150 Non-Climate Controlled Units | 21,475 Rentable Square Feet
  • 78% Physically Occupied and 67% Economically Occupied
  • Year One Cap Rate of 8.06 Percent; Stabilized 10.73 Percent
  • Year 1 Cash on Cash Exceeds 13 Percent

Exclusively Listed By

  • Anne Williams

    First Vice President Investments

    (901) 620-3622

    Email Anne

    License(s): TN: 00255603, AR: PB00066390, MS: B-20181

    Memphis

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s) GA: 252904

    Georgia

Financing By

Self-Storage Facility

Macon Storage Center

Listing Price: $600,000

Cap Rate
5.95%
Number of Units
150
Occupancy
67.0%
Gross SF
21,475
Rentable SF
21,475
Price/Rentable SF
$27.94
Year Built
1970

Investment Highlights

  • Value Add Opportunity
  • 150 Non-Climate Controlled Units | 21,475 Rentable Square Feet
  • 78% Physically Occupied and 67% Economically Occupied
  • Year One Cap Rate of 8.06 Percent; Stabilized 10.73 Percent
  • Year 1 Cash on Cash Exceeds 13 Percent

Investment Overview

Marcus & Millichap is proud to exclusively offer Macon Storage Center, located at 5410 Hawkinsville Road, Macon Georgia.

Macon Storage Center consists of 150 non-climate controlled units within 21,475 rentable square feet on approximately 1.6 acres. The facility was built in the 1970s, is paved, fenced and gated with controlled/keypad access. Other amenities include a leasing office and security cameras with monitoring system. Over the past four to five years, the property has undergone renovations that include a new fence and gate system, all new roll-up and swing doors, roof replacement on the back building and a renovated office.

The owner replaced the 3rd party management in 2020 and has seen the square foot occupancy jump from 48 percent to 78 percent (June 2020 vs June 2021) and a 50 percent jump in income. The economic occupancy is still around 67 percent, offering a lot of upside for the next owner.

Offered at $600.000, or $27.94 per square foot, Macon Storage Center presents an opportunity for an investor to acquire a value-add investment that proves that good management and answering the phone pay off. By increasing street rates to market and continuing to lease up, this asset is expected to reward its investor with a cay rate of 8.06 within the first year and a stabilized cap rate of 10.73 percent. Attractive debt options are available rewarding the investor with 13 percent cash on cash return (year 1) and north of 22 percent by the end of the second year.

Exclusively Listed By

  • Anne Williams

    First Vice President Investments

    (901) 620-3622

    Email Anne

    License(s): TN: 00255603, AR: PB00066390, MS: B-20181

    Memphis

Broker of Record

  • John M. Leonard

    First Vice President/Regional Manager

    (678) 808-2700

    License(s): GA: 252904

    Georgia

Financing By

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