Property Description

Executive Summary Positioned along a high-visibility commercial corridor in Macon, this 161-unit self-storage facility presents a rare value-add opportunity to reposition a formerly thriving asset back to stabilization. Originally constructed in 2004, the property consists of 26,200 SF across two buildings on 1.62 acres. An October 2023 evaluation concluded an 'As-Is Market Value of $2,000,000 ($12,422 per unit | $76.34/SF) with a Quick Sale Value of $1,800,000 ? reinforcing the intrinsic value of the real estate independent of current distress. Property Highlights * 161 Units | 26,200 SF * Built in 2004 ? steel construction * Zoned C2 Commercial * Located off a high-traffic four-lane road * Market Vacancy in area: 7% (Costar) * Replacement Cost Estimate: $1,729,200 The appraisal notes the property had good curb appeal and visibility at the time of inspection, with no known environmental concerns and located outside the 100- and 500-year floodplains . Strategic Location & Demand Drivers The property sits within the 31204 trade area: * Population: 29,107 * Median Household Income: $43,032 * Strong renter presence and urban periphery demographics Nearby I-75 traffic counts exceed 96,000 vehicles per day, providing exceptional visibility and long-term exposure. This submarket profile ? moderate incomes, renter-heavy households, multigenerational families ? is traditionally a strong self-storage consumer base. Historical Performance & Operational Upside Even during operational challenges in early 2023, the facility demonstrated leasing momentum: Q1 2023 * 31 Move-Ins * Net Positive Rentals: +11 Q2 2023 * 43 Move-Ins * Net Positive Rentals: +10 * Unit Occupancy: 83.4% These numbers confirm established customer awareness and active rental velocity prior to abandonment. At stabilization, the property showed: * Gross Potential Rent: $16,236 (Q2 reporting period snapshot) * Effective rental rates holding firm despite concessions With improved management, delinquency control, and targeted marketing, prior reports indicate occupancy was trending upward and positioned for strategic rate growth . Current Condition & Repositioning Plan The primary physical deficiency involves damaged unit doors requiring replacement. The core infrastructure ? buildings, paving, layout, utilities ? remains intact. This creates a clear and straightforward repositioning strategy: 1. Replace roll-up doors 2. Re-secure perimeter access 3. Re-launch marketing campaign 4. Implement modern revenue management 5. Introduce optional value-add features (alarms, keypad access, etc.) Because the underlying structures are sound and the market fundamentals are proven, the timeline to restore operations can be rapid compared to ground-up development. Investment Thesis This is a classic 'reopen and stabilize opportunity: * Strong historic occupancy (83%+) * Demonstrated rental velocity * High-traffic corridor location * Replacement cost near current valuation * Market vacancy just 7% With modest capital allocated toward door replacement and operational reset, an investor can capitalize on: * Immediate lease-up demand * Rate optimization * Value appreciation through stabilization * Exit at stabilized cap rates consistent with comparable regional trades The Opportunity This is not a speculative land play ? it is a recovery opportunity of a proven storage asset with history, brand recognition, and built-in deman

Property Features