A Storage Center

A Storage Center2020-02-11T11:02:16-05:00

Project Description

A Storage Center is under LOI

Under LOI
NRSF – 25,791

16209 US-19 N
Thomasville, GA 31792

A Storage Center is comprised of 25,791 rentable square feet on approximately 2.34 acres of land. The facility was built in 1978 and underwent expansion in 2006. The subject property is composed of 164 climate-controlled units and 42 non-climate-controlled units, ranging from 25 square feet to 400 square feet, for a total of 206 units. The facility has physical and economic occupancies of 87.0 percent and 53.5 percent, respectively. The site offers video surveillance, gated access and keypad entry to ensure secure self storage.

A Storage Center is located in Thomasville, Georgia and offers direct frontage along U.S. Highway 19, witnessing over 19,000 vehicles per day. Thomasville is in the heart of Thomas County, which has a population of over 18,000 individuals. Situated conveniently between an abundant number of schools, major roads and industries, this opportunity is in a prime location accessible to customers. Additionally, the site is within a mile of Walmart, McDonalds, Wendy’s, Walgreens, Dollar Tree, Waffle House and several other nationally-recognized retailers and restaurants. Thomasville is less than a 1 hour drive from both Valdosta, Georgia and Tallahassee, Florida.

A Storage Center represents a unique opportunity to acquire a cash-flowing facility with multiple upsides. The subject has excellent, forward-looking financials with projected cash-on-cash returns of 38.4 percent and 57.2 percent in years one and two, in addition to levered IRRs of 76.9 percent and 66.6 percent in years five and seven. An investor can bolster revenue by raising rental rates to meet the comparable average and by decreasing discounts for existing customers. Additionally, there is expansion potential at the back of the property for further growth. Furthermore, the facility can benefit from implementing a tenant insurance program and a truck rental program. A Storage Center will provide a buyer the opportunity to grow revenue and establish a significant market footprint in Thomasville, Georgia.

Investment Highlights:

  • Cash-Flowing Facility with Multiple Upsides Along U.S. Highway 19
  • Offered at Only $42.64 Per Net Rentable Square Foot
  • Year Two Proforma Cap Rate of 12.52 Percent
  • Cash-on-Cash Returns of 38.4 Percent and 57.2 Percent in Years One and Two
  • Projected Levered IRRs of 76.9 Percent and 66.6 Percent in Years Five and Seven
  • Physical and Economic Occupancies of 87.0 Percent and 53.5 Percent