Bought with The Joe Carbone Team • Compass
$425,000
$495,000
14.1%For more information regarding the value of a property, please contact us for a free consultation.
1.09 Acres Lot
SOLD DATE : 09/11/2023
Key Details
Sold Price $425,000
Property Type Commercial
Listing Status Sold
Purchase Type For Sale
MLS Listing ID 20067355
Sold Date 09/11/23
Construction Status Resale
Year Built 1985
Annual Tax Amount $2,369
Tax Year 2021
Lot Size 1.090 Acres
Property Description
(Agents see private) Potential $60k rental income. This 4-unit commercial property offers incredible income potential, located directly off of HWY 85, and directly across from Fayetteville Pavillion. The commercial unit square footage upstairs is ~4000 SF total, and the complex also offers 15 storage units, ranging in three different sizes located on the bottom backside. Commercial units are FULLY OCCUPIED, as the four units upstairs have been converted to two larger units. Two extremely long-term tenants. Both sides also have an extra basement unit, that can be separately rented or used as storage. The units have a kitchen, while one has a shower. Roof ~5 years old, HWH ~5 years old, 3 of 4 units, ~3 years old. Septic was pumped ~ 2 years ago. Currently offered with a cap rate of ~7% with GROSSLY undervalued rental rates and only ~5 of the 15 storage units occupied. Rental rates are ~$1 per SF in the surrounding area. Proforma cap rate ~10%. Land continues way beyond buildings and parking lots for opportunities for extended parking or more buildings. Property DOES NOT lie in Fayetteville city limits. You only have to answer to the county. CONTACT ME for listing flyer.
Location
State GA
County Fayette
Zoning Zoning is C CH. Highway commercial district.
Interior
Heating Electric, Central
Cooling Central Air
Exterior
Garage Paved, Parking Lot
Utilities Available Cable Available, Electricity Available, High Speed Internet, Water Available
Building
Sewer Septic Tank
Construction Status Resale
Others
Financing Seller Financing
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CEO | DRE# SA695240000 | DRE# 02100184