Pioneer Stor N Lok

41,040 NRSF | 353 Units | Columbus, GA |

Closed

INVESTMENT OVERVIEW

Pioneer Stor N Lok is a value-add self storage facility consisting of 40,020 NRSF among 353 total units situated on 3.29 acres of land. Included is a mix of 339 single story drive up units ranging from 35-300 SF along with another 12 outdoor parking spaces. Also included in the sale is an adjacent .93 AC parcel that is currently leased out to a tree care company for vehicle and equipment storage. This adjacent parcel could support future expansion efforts, or be converted into outdoor parking to maximize revenue. Pioneer Stor N Lock features a well-appointed leasing office, a manager apartment, well-maintained asphalt drive aisles, and keypad gated access to ensure security.

Currently, Pioneer Stor N Lok sustains physical occupancy of 92%, with an economic occupancy of 85%, indicating ample opportunity to increase revenue through leasing efforts and increasing rates on existing tenants. Rates at Pioneer Stor N Lok are approximately 10% below comparable averages, offering considerable immediate upside. The facility benefits from its proximity to both I-185 and Macon Road, which both sustain excellent traffic counts in excess of 59,000 and 36,000 VPD, respectively.

The facility is located in Columbus, GA which is the third-largest city in Georgia, and the home of Fort Benning which is the 5th largest Military Installation in the world, with a total base population exceeding 107,000.

Pioneer Stor N Lok is being offered for $4,350,000 which represents a 6.37% Cap Rate in Year one and $106 PSF.

Facility Summary

Property Name:                Pioneer Stor N Lok

Address:                             1444 Box Rd, Columbus, GA 31907

County:                              Muscogee

Total Land Area:              3.29 Acres +/-

Total NRSF:                      41,020 NRSF

Total Units:                        353

Non-Climate:                    339

Parking:                             14

Unit Sizes:                          35-300 SF

Physical Occupancy:       92% (Unit) | 93% (Area)

Economic Occupancy:    85%

Buildings:                         6 Single Story Metal Buildings

Manager Apartment:     Yes

Access:                              Keypad Gate Access, Security Cameras Throughout

Investment Highlights

  • 41,020 NRSF | 353 Units
  • $4,350,000 | 6.37% Year 1 Cap Rate
  • Significant upside through leasing and rate management
  • Expansion Opportunity on leased outdoor area
  • Nearby Fort Benning which is the 5th Largest Military Installation in the world