301 Glenburnie Rd New Bern, NC 28560-2706

Property Details for 301 Glenburnie Rd

Year built

1976

Lot size

1.64 lot acres

Property size

13,107 SF

Property type

Warehouses

Property subtype

Self storage facilities

APN

8-031 -018

APU

8031018

Description

This exceptional self-storage facility in New Bern, NC, presents a compelling value-add investment opportunity. The property, located at 301 N Glenburnie Rd, encompasses 13,259 square feet of climate-controlled storage units across two single-story buildings on a 7.45-acre lot (APN: 8-031 -018, 8-031 -023 and 0-031-019). Built in 1976 and renovated in 1996, the facility boasts 123 units with a current occupancy rate of 97.56% (as of June 30, 2024), generating a NOI of $104,812 and a 5.25% cap rate. A pro-forma NOI of $127,944 and a pro-forma cap rate of 6.41% project significant upside potential. The property includes an on-site rental office offering retail supplies and U-Haul rentals, plus added boat and RV parking (46.4% occupancy). A key advantage is the inclusion of an adjacent 4.9-acre parcel (buyer to verify), providing significant expansion potential. The facility features amenities such as fob and gate-controlled access, perimeter fencing, ample lighting, security cameras, and convenient loading dock and garage door access points. The property is zoned I-1 Light Industrial and situated in a rapidly growing market within Craven County, zip code 28560. The owner maintains a high standard of upkeep, ensuring the facility's attractive appearance and operational efficiency.

Location Insight

City

New Bern

County

Craven

State

North Carolina

Longitude

-77.0701

Latitude

35.1382

CBSA code

35100

CBSA name

NEW BERN, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments