River Point Storage

56,600 NRSF| 388 Units | Albany, GA 

river point storage is Under Contract

Investment Overview: 

River Point Storage presents an investor the opportunity to acquire a well established facility comprised of 56,600 NRSF among 198 climate controlled units, 179 non-climate controlled units and 7 outdoor parking spaces for a total of 388 units. Representing the best of market in terms of upkeep and amenities within the immediate trade area, River Point Storage off­ers
tenants a diverse array of both climate and non-climate storage options, all within a secure, immaculately maintained and convenient location.

River Point Storage is ideally situated, with excellent frontage, signage and curb appeal on US-91/Philema Road, which witnesses approximately 15,000 VPD according to GDOT statistics. The location of River Point Storage is further bolstered by its close proximity to the River Pointe Plantation Community, a nearby wealthy subdivision with an 18-hole golf course and
country club with its primary entrance approximately 1/4 mile from River Point Storage.

River Point Storage has historically enjoyed high physical occupancy and boasts a current physical occupancy of 98.4%, which is indicative of both the quality of the asset and the demand for self-storage within the immediate trade area. River Point Storage enjoys a competitive advantage to other facilities, as there are few climate controlled storage options in the trade area. The favorable supply dynamic of only approximately 2.09 SF per capita of climate controlled storage within a three mile radius supports value add initiatives of raising rental rates, and potenitally expanding the existing climate controlled building on the area currently being used for outdoor RV/boat parking.

River Point Storage’s high historic occupancy levels, coupled with its favorable supply dynamic will allow a new operator to set the market standard and add immediate value by optimizing and raising street rates, as well as reducing variance on existing tenants which totals $2,670 per month as of August 2020. Further revenue drivers can be implemented to by increasing sources of secondary income through the addition of a comprehensive tenant insurance program, increased retail sales, and offering truck rentals.

Constructed in Phases from 2003-2006, River Point Storage has been well maintained, with no impending capital expenditures necessary. In 2018 a new gate was installed and preventative maintenance measures are regularly undertaken by management and ownership to ensure that this facility remains in excellent condition and continues to stand out relative to nearby competitors.

Facility Summary
Address:              1006 Philema Rd. Albany, GA 31701
County:               Dougherty
Land Area:          3.36 AC +/-
NRSF:                   30,400 Climate | 26,200 Non Climate | 56,600 Total                       
Units:                   202 Climate | 179 Non-Climate | 7 Parking
Occupancy:        98.9% (Area) | 98.2% (Unit) | 91.5% (Economic) 
Unit Sizes:          50-300 SF 
Buildings:           6 Single Story Buildings
Construction:    6 Betco Steel Buildings
Built:                   2003-2006
Access:               Sliding Gates with PTI Integrated Keypad Access    
Investment Highlights:
  • 56,600 NRSF situated upon 3.36 +/- acres among 389 Total Units
  • Favorable ratio of Climate Controlled Storage of 53.7%
  • Area for Climate Controlled Expansion
  • Undersupplied Climate Controlled market- Approx. 2.09 SF/Capita within a 3 mile radius.
  • High Physical Occupancy- 98.9%
  • Excellent Visibility and Traffic Exposure- Approximately 15,000 VPD pass by River Point Storage Daily
  •  Approximately $2,670 per month variance, allowing new operator to immediately increase revenues.
  • Significant opportunity to boost revenues by  adding and improving upon secondary income streams such as tenant insurance, increased retail sales, and truck rentals.