123 Pope Rd - College Square Storage 9,600 SF Specialty Building Offered at $995,000 at a 7.82% Cap Rate in Morristown, TN 37813
INVESTMENT HIGHLIGHTS
- New and stabilized climate control units.
- The facility has 67 (10x10) units but the owner has converted 6 units into (10x20).
- Digital Video Surveillance
- Occupancy is 98% to 100% with room for a rent increase.
- Minutes from Walters State Community College, College Square Mall, Industrial Park, and numerous apartment complexes.
- Online Bill Pay with recurring billing,
EXECUTIVE SUMMARY
1-year-old climate control storage.Excellent location with room to increase rates!
DATA ROOM Click Here to Access
- Offering Memorandum
FINANCIAL SUMMARY (ACTUAL - 2023) Click Here to Access |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$99,999
|
$9.99
|
| Other Income |
$99,999
|
$9.99
|
| Vacancy Loss |
$99,999
|
$9.99
|
| Effective Gross Income |
$99,999
|
$9.99
|
| Taxes |
$99,999
|
$9.99
|
| Operating Expenses |
$99,999
|
$9.99
|
| Total Expenses |
$99,999
|
$9.99
|
| Net Operating Income |
$99,999
|
$9.99
|
PROPERTY FACTS
AMENITIES
- Signage
- Wheelchair Accessible
- Air Conditioning
- Smoke Detector
PROPERTY TAXES
| Parcel Number | 032025M K 00102 | Total Assessment | $203,920 (2024) |
| Land Assessment | $8,800 (2024) | Annual Taxes | ($1) ($0.00/SF) |
| Improvements Assessment | $195,120 (2024) | Tax Year | 2023 |
