3968 Mercer University DR, Macon, GA 31204
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Micki Esposito

Micki Esposito

+1(706) 309-1881
$1,200,000
Est. payment /mo
26,800 SqFt
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Key Details

Property Type Commercial

Sub Type Retail

Listing Status Pending

Purchase Type For Sale

Square Footage 26,800 sqft

Price per Sqft $44

Subdivision No Subdivision

MLS Listing ID 7727810

Construction Status Resale

HOA Y/N No

Year Built 2005

Annual Tax Amount $9,326

Tax Year 2025

Lot Size 1.620 Acres

Acres 1.62

Property Sub-Type Retail

Source First Multiple Listing Service

Property Description

Executive Summary Positioned along a high-visibility commercial corridor in Macon, this 161-unit self-storage facility presents a rare value-add opportunity to reposition a formerly thriving asset back to stabilization. Originally constructed in 2004, the property consists of 26,200 SF across two buildings on 1.62 acres. An October 2023 evaluation concluded an “As-Is” Market Value of $2,000,000 ($12,422 per unit | $76.34/SF) with a Quick Sale Value of $1,800,000 — reinforcing the intrinsic value of the real estate independent of current distress. Property Highlights * 161 Units | 26,200 SF * Built in 2004 – steel construction * Zoned C2 Commercial * Located off a high-traffic four-lane road * Market Vacancy in area: 7% (Costar) * Replacement Cost Estimate: $1,729,200 The appraisal notes the property had "good curb appeal and visibility" at the time of inspection, with no known environmental concerns and located outside the 100- and 500-year floodplains . Strategic Location & Demand Drivers The property sits within the 31204 trade area: * Population: 29,107 * Median Household Income: $43,032 * Strong renter presence and urban periphery demographics Nearby I-75 traffic counts exceed 96,000 vehicles per day, providing exceptional visibility and long-term exposure. This submarket profile — moderate incomes, renter-heavy households, multigenerational families — is traditionally a strong self-storage consumer base. Historical Performance & Operational Upside Even during operational challenges in early 2023, the facility demonstrated leasing momentum: Q1 2023 * 31 Move-Ins * Net Positive Rentals: +11 Q2 2023 * 43 Move-Ins * Net Positive Rentals: +10 * Unit Occupancy: 83.4% These numbers confirm established customer awareness and active rental velocity prior to abandonment. At stabilization, the property showed: * Gross Potential Rent: $16,236 (Q2 reporting period snapshot) * Effective rental rates holding firm despite concessions With improved management, delinquency control, and targeted marketing, prior reports indicate occupancy was trending upward and positioned for strategic rate growth . Current Condition & Repositioning Plan The primary physical deficiency involves damaged unit doors requiring replacement. The core infrastructure — buildings, paving, layout, utilities — remains intact. This creates a clear and straightforward repositioning strategy: 1. Replace roll-up doors 2. Re-secure perimeter access 3. Re-launch marketing campaign 4. Implement modern revenue management 5. Introduce optional value-add features (alarms, keypad access, etc.) Because the underlying structures are sound and the market fundamentals are proven, the timeline to restore operations can be rapid compared to ground-up development. Investment Thesis This is a classic “reopen and stabilize” opportunity: * Strong historic occupancy (83%+) * Demonstrated rental velocity * High-traffic corridor location * Replacement cost near current valuation * Market vacancy just 7% With modest capital allocated toward door replacement and operational reset, an investor can capitalize on: * Immediate lease-up demand * Rate optimization * Value appreciation through stabilization * Exit at stabilized cap rates consistent with comparable regional trades The Opportunity This is not a speculative land play — it is a recovery opportunity of a proven storage asset with history, brand recognition, and built-in demand. For an investor seeking yield through operational turnaround rather than development risk, 3968 Mercer University Drive represents a compelling value-add acquisition in a stable Georgia secondary market. --- For additional information contact Jason Koenig with KW Commercial directly.

Location

State GA

County Bibb

Zoning C2

Lake Name None

Rooms

Other Rooms None

Basement None

Interior

Interior Features Reception Area, Restrooms

Heating Electric, Office Area Only

Cooling Electric, Office Area Only

Flooring Carpet, Concrete

Equipment None

Window Features None

Exterior

Parking Features Parking Lot

Fence Chain Link, Gate

Utilities Available Electricity Available, Sewer Available, Water Available

Waterfront Description None

View Y/N Yes

View City, Trees/Woods

Roof Type Shingle

Street Surface Asphalt,Paved

Accessibility Accessible Doors, Accessible Full Bath, Accessible Entrance

Handicap Access Accessible Doors, Accessible Full Bath, Accessible Entrance

Total Parking Spaces 10

Private Pool false

Building

Lot Description Rectangular Lot

Story One

Foundation Slab

Sewer Public Sewer

Water Public

Level or Stories One

Structure Type Frame,Metal Siding

Construction Status Resale

Others

Senior Community no

Tax ID M0830096

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First Multiple Listing Service(FMLS)
Listed by Keller Wms Re Atl Midtown

NEARBY SCHOOL & BUSINESS

Micki Esposito

+1(706) 309-1881

micki@momentousrealty.com

2801 Washington Rd., Ste. 188, Augusta, Ga, 30909, United States

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3968 Mercer University DR