Self-Storage Facility With Expansion
New
For Sale
$3,250,000
1629 Danielsville Road & 187 Wilkerson Street, Athens, GA 30601
Operating self-storage property with expansion acreage at its Danielsville Road location and established occupancy across units and rentable area.
Property Size39,350 SF
Days on Market5
Property Features for 1629 Danielsville Road & 187 Wilkerson Street
General Information
Standard status
Active
Size
39,350 SF
Property subtype
Commercial
Occupancy
87%
Net Operating Income
$213,057
Building Details
Building Size
39,350 SF
Units
400
Listing Agency:
Matthews Real Estate Investment Services | Dallas
Listed By:
Austin McLeod · License #394903 (GA)
(404) 445-1093
Source:
Matthews
Added: Sep 16
Changed: Sep 20
Last Checked: Sep 20 at 5:10AM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Matthews Real Estate Investment Services | Dallas
Investment Insights
Based on property information with market context.
This self-storage property at 1629 Danielsville Road and 187 Wilkerson Street in Athens records 87% unit occupancy, 90% square-foot occupancy, and 93% economic occupancy. Additional land at the Danielsville Road location supports future expansion of the facility.
The property is situated within an Athens market shaped by the University of Georgia, which reports total enrollment of 43,888 students. Residential development is also underway throughout Athens, providing ongoing growth in the surrounding community. In-place rents remain below those of nearby competitors, while no new self-storage projects are planned or under construction in the immediate trade area according to the provided market information.
The property is situated within an Athens market shaped by the University of Georgia, which reports total enrollment of 43,888 students. Residential development is also underway throughout Athens, providing ongoing growth in the surrounding community. In-place rents remain below those of nearby competitors, while no new self-storage projects are planned or under construction in the immediate trade area according to the provided market information.
Key Highlights
- 87% unit occupancy, 90% square‑foot occupancy, and 93% economic occupancy
- Expansion land included at the Danielsville Road location
- Located at 1629 Danielsville Road & 187 Wilkerson Street, Athens, GA 30601
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$288,862
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
8.89%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,777,240
$5.8M
Cap Rate 7%
$4,126,600
$4.1M
Cap Rate 9%
$3,209,578
$3.2M
Market Conditions
NOI Build-Up for 39,350 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$373.0K $9.48/SF
− Vacancy
−$33.2K −$0.84/SF
EGI
$339.8K $8.64/SF
− OpEx
−$51.0K −$1.30/SF
NOI
$288.9K $7.34/SF
Area
Athens, GA
Vacancy
8.90%
Lease Rate
$9.48 /SF/Yr
Expense Ratio
15.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$5,777,240
Cap Rate 7%
$4,126,600
Cap Rate 9%
$3,209,578
Alternative Uses
Best Use
Self Storage
$4.83M
$4.23M – $5.64M
NOI $338,142 @ 7.0% cap · market cap 10.40%
Second Best
Warehouse
$4.13M
$3.61M – $4.81M
NOI $288,862 @ 7.0% cap · market cap 8.89%
Theoretical Best
Office A
$9.49M
$8.30M – $11.07M
NOI $664,027 @ 7.0% cap · market cap 20.43%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
1,610
Businesses Nearby
Explore this area
Business Placement
Demographics for 30601, GA
25,036
Population
11,634
Households
2.2
Avg Household Size
28
Median Age
37%
College-Educated
84%
High-School Grad
23.4 sq mi
ZIP Area
1,070
Density / Sq Mi
$37,357
Median Household Income
$24,639
Median Earnings
$1,198
Median Rent
$213,300
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Self storage facility - Operating self-storage property with expansion acreage at its Danielsville Road location and established occupancy across units and rentable area.
Where is this self storage facility located?
The property is located at 1629 Danielsville Road & 187 Wilkerson Street Athens, GA.
What is the asking price?
The asking price for this property is $3,250,000.
What are key features of this property?
This property features: 87% unit occupancy, 90% square‑foot occupancy, and 93% economic occupancy; Expansion land included at the Danielsville Road location; Located at 1629 Danielsville Road & 187 Wilkerson Street, Athens, GA 30601
