Stockbridge Storage Development
For sale7555 Davidson Parkway, Stockbridge, GA 30281
Unit / Space count
640
Price
$1,300,000
Cap Rate
9.86%
Property class
A
Stories
2
APN
12-072D-A-013
Lot size
3.20 acres
Property description
The Stockbridge Storage Development Site is a fully approved, shovel-ready self-storage opportunity on 3.20 acres at 7555 Davidson Parkway in Stockbridge, Georgia, offered at $1,300,000. Plans call for a Class A, climate-controlled facility made up of two two-story buildings with about 640 units and 62,400 NRSF. The conditional use permit, land disturbance permit, and site plan approvals are already in place, so a buyer can move toward construction without waiting on entitlements. This is a ground-up development, so the buyer takes on construction cost and lease-up risk in exchange for a new, modern facility. The location is the main draw. The site has excellent visibility along I-675, one of the busiest corridors in the area, and sits about 15 miles southeast of downtown Atlanta in a dense bedroom community. The trade area has a large, steadily growing population and healthy household incomes. A heavy pipeline of planned housing, with more than 17,000 new units within ten miles, adds to long-term demand. Competition nearby is established, with several national operators in the immediate area, but projected rents are in line with those competitors, and a new Class A climate-controlled facility is well positioned to capture demand. The site also benefits from direct access to the I-75/I-675 corridor and from the depth of the Atlanta MSA, the largest metro in Georgia.
Property highlights
- 3.20-Acre Self Storage Development Site With Plans & Approvals In Place to Build a "Class A" Facility in the Atlanta, Georgia MSA
- Plans Call for Two Two-Story Buildings Comprised of 640 Climate-Control Units Totaling 62,400 Net Rentable Square Feet
- Conditional Use Permit, Land Disturbance Permit, and Site Plan Approvals Already In-Place
- Excellent Visibility Along I-675 Which Sees Over 59,000 Vehicles Per Day
- Strong Average Household Income of $90,774 Within Five Miles of the Property
- Dense Population of 135,745 Residents Within Five Miles of the Property Growing at 0.7% Annually
- Over 65 Planned Residential Developments Totaling More Than 17,000 New Housing Units Within Ten Miles of the Site
- Stockbridge is Located Just 15 Miles Southeast of Downtown Atlanta, Making it a Bedroom Community for One of the Country's Largest Cities
- The Atlanta-Sandy Springs-Roswell MSA is the Largest in the State of Georgia and is Home to 6,482,182 Residents
Broker of Record Bryan Belk Georgia BOR License No. 329335 Firm License No. 77084 813-839-7300 FSIVS@FranklinSt.com Franklin Street Real Estate Services LLC