Current Use by Public Records
- Alexander's Industrial Services / Factory / Industrial Manufacturer
- AIMS Companies / General Contractor / Construction Company
Property Details for 311 State Docks Rd
- Year built
- 1978
- Lot size
- 11.00 lot acres
- Property type
- Warehouses
- Property subtype
- Industrial properties
Description
This exceptional investment opportunity presents a fully occupied, multi-tenant industrial warehouse totaling 97,172 square feet situated on an expansive 11-acre lot in Phenix City, Alabama, within the Columbus, GA MSA. The property, comprised of three buildings, boasts a 20'-24' ceiling height, twelve loading docks, and six dock-high doors, providing ample space for various industrial operations. Built in 1978 with significant renovations completed in 2016 (approximately $1 million in improvements), the property features updated metal panel walls, a fitness center, high-end office space, a new sprinkler system, and roof repairs. Currently operating at 100% occupancy, the property benefits from below-market rents with built-in annual increases, offering substantial upside potential at lease maturity. The primary tenant, a nationally recognized industrial services company, occupies 96% of the space, providing strong financial stability. The property's strategic location near Fort Moore, supporting over 120,000 military personnel daily, and its proximity to major transportation arteries, further enhances its value and long-term prospects. The current Net Operating Income (NOI) is $207,126, with a pro-forma NOI of $294,930, reflecting a 7.02% cap rate and a pro-forma cap rate of 10.00%. This offering presents a compelling value-add investment opportunity with significant potential for future growth and returns. The asking price is $2,950,000.
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
- Phenix City
- County
- Russell
- State
- Alabama
- Longitude
- -84.986
- Latitude
- 32.4335
