471 Silver City Rd Belzoni, MS 39038
- Self storage facilities
- 12,775 SF
- 4.14 lot acres
Current Use by Public Records
- Self storage facilities
Property Details for 471 Silver City Rd
- Year built
- 2000
- Lot size
- 4.14 lot acres
- Property size
- 12,775 SF
- Property type
- Self storage facilities
Description
This exceptional self-storage portfolio in Belzoni, Mississippi, presents a compelling value-add investment opportunity. Comprising two facilities totaling 12,775 square feet and 106 units, this property sits on a 4.14-acre lot (APN: H06H010003.03,3,) and is zoned for commercial use. Built in 2000 and 2003 (with renovations in 2003 and 2010), the portfolio includes five single-story buildings. Currently operating at 50% occupancy, the property offers significant upside potential. The current Net Operating Income (NOI) is $28,790, with a pro-forma NOI projected at $61,590, yielding a pro-forma cap rate of 17.60%. The asking price is $350,000, translating to $27.40 per square foot and $3,301.89 per unit. The property features a mix of unit sizes, including 5x10, 10x10, 10x12.5, 10x15, and 10x20 units. While some minor repairs are needed (a few doors require repair/replacement), the substantial potential for increased occupancy and operational improvements makes this a highly attractive investment. The property's location offers convenient access, and the large lot size (4.14 acres) provides ample space for future expansion. The existing buildings offer 12,775 rentable square feet, with an additional 180,338 square feet of potential air rights. This property is being offered fee simple. The current occupancy date is August 7, 2024. This is an ideal opportunity for investors seeking a value-add project with substantial upside potential.
Value Estimation
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Belzoni
- County
- Humphreys
- State
- Mississippi
- Longitude
- -90.4946
- Latitude
- 33.1685
