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553 Patrol Rd - Holiday Mini Storage Forsyth, Ga
28,000 SF Specialty Building Offered at $3,800,000 at a 8.10% Cap Rate in Forsyth, GA 31029
Investment Highlights
- Great revenue upside with room for expansion
- Great for passive Investment , lów deferred maintenance , manager in place
- Excellent location to I-75 and Downtown Forsyth
Financial Summary (Pro forma - 2024) |
Annual | Annual Per SF |
|---|---|---|
| Gross Rental Income |
$474,630
|
$16.95
|
| Other Income |
-
|
-
|
| Vacancy Loss |
$71,194
|
$2.54
|
| Effective Gross Income |
$403,436
|
$14.41
|
| Taxes |
$39,996
|
$1.43
|
| Operating Expenses |
$55,560
|
$1.98
|
| Total Expenses |
$95,556
|
$3.41
|
| Net Operating Income |
$307,880
|
$11.00
|
Financial Summary (Pro forma - 2024)
| Gross Rental Income | |
|---|---|
| Annual | $474,630 |
| Annual Per SF | $16.95 |
| Other Income | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Vacancy Loss | |
|---|---|
| Annual | $71,194 |
| Annual Per SF | $2.54 |
| Effective Gross Income | |
|---|---|
| Annual | $403,436 |
| Annual Per SF | $14.41 |
| Taxes | |
|---|---|
| Annual | $39,996 |
| Annual Per SF | $1.43 |
| Operating Expenses | |
|---|---|
| Annual | $55,560 |
| Annual Per SF | $1.98 |
| Total Expenses | |
|---|---|
| Annual | $95,556 |
| Annual Per SF | $3.41 |
| Net Operating Income | |
|---|---|
| Annual | $307,880 |
| Annual Per SF | $11.00 |
Property Facts
| Price | $3,800,000 | Property Subtype | Self-Storage |
| Price Per SF | $136 | Building Class | C |
| Sale Type | Investment or Owner User | Lot Size | 6.10 AC |
| Cap Rate | 8.10% | Building Size | 28,000 SF |
| Sale Conditions | Business Value Included | No. Stories | 1 |
| Property Type | Specialty | Year Built | 1996 |
| Price | $3,800,000 |
| Price Per SF | $136 |
| Sale Type | Investment or Owner User |
| Cap Rate | 8.10% |
| Sale Conditions | Business Value Included |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 6.10 AC |
| Building Size | 28,000 SF |
| No. Stories | 1 |
| Year Built | 1996 |
About 553 Patrol Rd , Forsyth, GA 31029
New construction on 52 new units out of a total of 158 non-climate mini storage units, along with the adjacent climate control units that are currently around 98% occupancy. Great location just off I-75 near downtown Forsyth. Fenced with electronic gate access and several parcels available for future expansion. Attractive pricing at 8.01% cap rate which includes a .50 acre outparcel priced in at $150,000 which equates to an 8.43% cap rate for the storage units. Rental rates with room for increase as well as future expansion give this property plenty of upside, that coupled with a manager in place make this property perfect for the passive investor or a better return for the owner operator.
PROPERTY TAXES
| Parcel Number | 054-005A | Total Assessment | $110,480 (2023) |
| Land Assessment | $110,480 (2023) | Annual Taxes | $39,996 ($1.43/SF) |
| Improvements Assessment | $0 (2023) | Tax Year | 2024 |
PROPERTY TAXES
zoning
| Zoning Code | HB (Highway Business District City of Forsyth) |
| HB (Highway Business District City of Forsyth) |
Presented by
W. Scott Wilson Properties LLC
553 Patrol Rd - Holiday Mini Storage Forsyth, Ga
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