Listing contacts

Leslie Crenshaw  

RE/MAX Southern

(770) 227-5555 309

Active

Asking price: $649,900
Added: 2020-11-05 Updated: 2020-11-20

Info

Address 60 Stevens Ln SW
City Ludowici
State GA
Zip Code 31316
County Long
Total Lot Size 4.33 acres
Year Built
Property type Self Storage

Details

Industrial office space 600 SF
Ceiling height 8 ft
Minimum ceiling clearance 8 ft
Number of units 46
Number of floors 1
Zoning Commercial
Grade level doors 46
Physical Occupancy 84.78%

Demographics

Median household income (5-mile radius) 50,275
Renters occupied (5-mile radius) 31 %
Num of competitors (5-mile radius) 2
Sq.Ft. per capita (1-mile radius) 50.89
5x5 unit average price $0
5x10 unit average price $0
10x10 unit average price $0

Analytics

Analyze the location Search in radius
Feasibility study Generate compass report

Highlights

  • ALL Structures Sq.Ft: 9,670
  • Self Storage Total Sq. Ft: 7,920
  • @ $40/sq.ft = $316,800
  • Total Rentable Sq. Ft.: 5,376
  • Total Units: 46
  • Adj. Parcel w/ 512sq.ft. Ofc. Bldg. = $170,980 Market Worth
  • SFH Sq. Ft: 1,238 = $162,120 Market Worth

Description

Opportunity for Owner/Operator in the Self Storage industry. Forty-six(46) total units. Sixteen(16) are climate controlled(CC) and thirty(30) are non-climate controlled(NCC). This facility is one, of only two, like entities within the confines of the city and only this one offers CC units. Two rentable structures; one a repurposed Class C stick frame and the other a newer built Class B steel on slab. Office/Showroom (600 sq.ft) and vehicle canopy for customer convenience in inclement weather. Self storage facility has a total of 7,920 sq.ft [5,376 sq.ft rentable] situated on 2.36 acres. Cap Rate of 6.98% calculated from history of 80%+ past occupancy rate(s) over the last year. Current occupancy at 100%. Arbitrary operational management and under-marketing of property by Seller is correctable. Owner did sell moving supplies at one point but discontinued this practice many years ago. Only in the last 30 days has he resumed this part of operations on a small scale basis. Financial information and calculations on this property do not include this income stream. Sale will transfer two(2) parcels, 2.36 acres and 1.97 acres, of mostly cleared and flat land. Existing structure is a 512 sq.ft. office building with small fenced-in area on adjacent parcel. Lot is generating income as vehicle storage for a neighboring business. Additional monetary gain provided by U-haul equipment rentals in the form of commission. Arrangement with this provider can transfer pending vendor approval as an agent. Also included is a 1,238 sq.ft. home custom built in 2016. Two(2) bedrooms - one on main floor, owner''s on second floor - and one(1) bathroom. Designed to be highly energy efficient, well insulated, with solid construction considerations. Use as housing for on-site management or lease it for estimated residential market rent of between $1,300 to $1,600. Could possibly generate more as a commercial rental space for service-based businesses. Ludowici is an improving area and has experienced a 53%+ increase in population since 2000. Due to local max occupancy conditions; consumers are now having to meet their storage needs in bordering cities. This is a wonderful opportunity for owner-operators or great addition to an investment portfolio.

Location details

Two(2) Parcels. One parcel that is host to the Self Storage facility is 2.36 acres. Adjacent lot is 1.97 acres. Total: 4.33 acres. Flat grade, mostly cleared. Climate controlled building on highway frontage, secondary non-climate controlled building to the rear of CC building. Through road between parcels leading to residential rental units belonging to daughter of Seller/Owner.


Drive Time:
0-5 minutes
6-10 minutes
11-15 minutes
16-20 minutes
$

%

Your monthly payment will be:

$ 0