Augusta Lock Storage

46,403 NRSF | 361 Units | Augusta, GA

INVESTMENT OVERVIEW

Located in the second largest MSA in Georgia, Augusta Lock storage, alongside its annex property exhibits many of the factors which present a strong value- add opportunity.

Distanced only a mile and a half apart, the properties are heavily surrounded by residential neighborhoods and are visible as well as easily accessible to the residents in the trade area. The facilities consist of 361 units, totaling 49,403 NRSF, and contain units ranging from 24- to 4,000 SF. The storage options between the two properties include climate-controlled drive-up, non-climate-controlled drive-up, non-climate hallway accessible units, office rentals, and parking spaces.

The facilities are 92% physically occupied and 86% economically occupied. The economic strength and resilience of this market have historically proved strong and the continued growth that is expected of this market assures rental rate upside for a new investor.

Facility Summary

Property Name:              Augusta Lock Storage

Address:                           3208 Mike Padgett Hwy, Augusta, GA|

2034 Bloomingdale St, Augusta, GA

County:                             Richmond

Total Land Area:             5.55 Acres +/-

Total NRSF:                     49,403

Total Units:                      361

Unit Sizes:                        21-4000 SF

Physical Occupancy:       97%

Economic Occupancy:    89%

Buildings:                          13 Buildings

Investment Highlights

  • 97 % physical occupancy and 87% economic occupancy.
  • Great visibility and convenient location. Approximately 18,000 vehicles per day on Mike Padgett Highway.
  • Value-add opportunity which boasts upside through on-site and revenue management.
  • Opportunity to grow rental rates to align with nearby competitors.
  • Located in second largest MSA in Georgia.

Get More Information

To access the Offering Memorandum and Dropbox, please . Don’t have an account already? Register today.

*Email verification is required.