Current Use by Public Records
- Marion Storage Depot / Storage Facility
Property Details for 308 Pickens St
- Property type
- Self storage facilities
Description
This exceptional self-storage facility, the Marion Storage Depot, presents a compelling investment opportunity in Marion, Alabama. Located at 308 Pickens St, 36756, this property boasts 9,600 square feet across two lots totaling 0.91 acres. The facility comprises 104 units and benefits from remote management via Easy Storage Solutions, ensuring streamlined and low-maintenance operations. With a gross lease type and multi-tenancy structure, this property offers a strong, stable income stream. The asking price is $385,000, yielding a substantial 10.00% capitalization rate and a pro-forma net operating income (NOI) of $59,774. This represents a unique opportunity in a growing market, particularly given its position as the only self-storage facility in Marion, Alabama, resulting in a remarkably low storage supply per capita (only 3 square feet per person). The property's strategic location and high demand make it an attractive investment for both seasoned and emerging investors seeking a low-maintenance, high-return asset in a thriving market. The property's current operational efficiency and the lack of competition in the local market contribute to its strong financial performance and future growth potential. This is a rare chance to acquire a turnkey self-storage facility with significant upside.
Value Estimations
-
AI approach
-
CAP approach
-
Comparable approach
-
Alternative Use
Location Insight
- Map
- Local Demand
- City
- Marion
- County
- Perry
- State
- Alabama
- Longitude
- -87.3179
- Latitude
- 32.6324
