$425,000
$495,000
14.1%For more information regarding the value of a property, please contact us for a free consultation.
7,846 SqFt
SOLD DATE : 09/11/2023
Key Details
Sold Price $425,000
Property Type Commercial
Sub Type Business
Listing Status Sold
Purchase Type For Sale
Square Footage 7,846 sqft
Price per Sqft $54
MLS Listing ID 7102139
Sold Date 09/11/23
Construction Status Resale
HOA Y/N No
Originating Board First Multiple Listing Service
Year Built 1985
Annual Tax Amount $2,370
Tax Year 2021
Lot Size 1.090 Acres
Acres 1.09
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.
Location
State GA
County Fayette
Zoning C-CH
Lake Name None
Rooms
Other Rooms None
Basement Driveway Access, Exterior Entry
Interior
Interior Features Reception Area
Heating Central
Cooling Central Air
Flooring Other
Window Features None
Exterior
Garage Parking Lot
Fence None
Utilities Available Cable Available, Electricity Available, Water Available
Waterfront Description None
View Trees/Woods
Roof Type Other
Street Surface Asphalt
Accessibility None
Handicap Access None
Total Parking Spaces 20
Private Pool false
Building
Lot Description Business Park, Cul-De-Sac
Story One
Foundation Block
Level or Stories One
Structure Type Block,Brick Front,Vinyl Siding
New Construction No
Construction Status Resale
Others
Senior Community no
Tax ID 0538 070
Special Listing Condition None
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