3968 Mercer University Drive

Macon, GA 31204

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.

Listing Courtesy Of: Jason Koenig of Keller Wms Re Atl Midtown Broker: 404-604-3100 Prefer Ph#:jason.koenig@kw.com

Listings identified with the FMLS IDX logo come from FMLS and are held by brokerage firms other than the owner of this website and the listing brokerage is identified in any listing details. Information is deemed reliable but is not guaranteed. If you believe any FMLS listing contains material that infringes your copyrighted work, please click here to review our DMCA policy and learn how to submit a takedown request.



© 2017-2026 First Multiple Listing Service, Inc.