Current Use by Public Records
- Self storage facilities
Property Details for 1503 Al-19
- Lot size
- 1.19 lot acres
- Property type
- Self storage facilities
Description
This exceptional self-storage facility in Red Bay, Alabama, presents a compelling value-add investment opportunity. Boasting 10,100 square feet and 82 units across a 1.19-acre lot, this single-story property offers significant upside potential. Currently generating a NOI of $41,556, representing a 10.01% cap rate, pro forma projections indicate a substantial increase to $48,597 NOI and an 11.71% cap rate. The property is conveniently situated at 1503 AL-19 in Franklin County, Alabama, zip code 35582, benefiting from its location in a growing market bordering Mississippi. The facility is managed remotely, enhancing operational efficiency. Priced at $415,000, this translates to $41.09 per square foot and $5,060.98 per unit, making it an attractive proposition for investors seeking strong returns. The property's strategic location and potential for revenue growth make it an ideal addition to any investment portfolio, offering both immediate income and long-term appreciation prospects. This is a rare opportunity to acquire a well-positioned self-storage facility in a thriving market.
Value Estimations
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AI approach
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CAP approach
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Comparable approach
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Alternative Use
Location Insight
- Map
- Local Demand
- City
- Red Bay
- County
- Franklin
- State
- Alabama
- Longitude
- -88.1369
- Latitude
- 34.4202
