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.
Property Name: Augusta Lock Storage
Address: 3208 Mike Padgett Hwy, Augusta, GA|
2034 Bloomingdale St, Augusta, GA
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