$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
Listing Status Sold
Purchase Type For Sale
Square Footage 7,846 sqft
Price per Sqft $54
MLS Listing ID 20067355
Sold Date 09/11/23
HOA Y/N No
Originating Board Georgia MLS 2
Year Built 1985
Annual Tax Amount $2,369
Tax Year 2021
Lot Size 1.090 Acres
Acres 1.09
Lot Dimensions 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. 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
Fireplace No
Exterior
Parking Features Paved, Parking Lot
Utilities Available Cable Available, Electricity Available, High Speed Internet, Water Available
View Y/N No
Garage No
Private Pool No
Building
Lot Description Business Park
Faces North on HWY 85 from DT Fayetteville. Turn right on Huntington Park Dr. Building is on left behind Verizon.
Sewer Septic Tank
Water None
Structure Type Brick,Vinyl Siding
New Construction No
Others
Tax ID 0538 070
Special Listing Condition Resale
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