203-Unit, Class "B", Multifamily Portfolio | 5.6% Cap Rate | Dublin, GA

1003 Claxton Dairy Road & 104 Parker Dairy Road Dublin, GA 31021

1003 Claxton Dairy Road & 104 Parker Dairy Road, Dublin, GA, 31021
1003 Claxton Dairy Road & 104 Parker Dairy Road, Dublin, GA, 31021
FOR SALE
Property Type:
MultiFamily Apartments
Amount:
$16,000,000
Last Verified:
Sep 18, 2020

Highlights

  • Virtually no vacancies in "market rent" multifamily properties within 40 miles
  • Asking price of $73/SF - well below estimated construction cost of $135/SF
  • 35,000 employees within 5 miles of properties
  • Dublin serves as the economic hub of central southeast Georgia
  • Dublin named as one of top 20 locations in the nation for economic development
  • Burgeoning economy in part due to links to fastest growing seaport in the nation
  • Pecan Ridge Apts. nestled in a Pecan grove have a campy, retreat, rural resort feel
  • Experienced property management staff has been with properties for years

Description

Opportunity to acquire two, Class "B", fully-occupied, well-maintained, operationally "turn key," market rent apartment communities in Dublin, GA with below market rents in a market with virtually no vacancies. Offered at 5.2% cap rate on actual, 5.6% cap rate on Year 1.

The two properties total 203 units and are 2.2 miles apart located along a major transportation corridor that connects the 2nd busiest seaport on the East Coast - fastest growing nationally - to the rest of the country. Rents demonstrably 29% below market with the largest 2 & 3-bedroom units in the market. Includes land sufficient to build 60 or more units in Opportunity Zone.

ARRANGE ALL PROPERTY TOURS WITH BULL REALTY. DO NOT DISTURB TENANTS.

TBD

Building Size: 208000.0sq ft
Lot Size: 0.0 acres

Map of 1003 Claxton Dairy Road & 104 Parker Dairy Road, Dublin, GA, 31021

Presented by:

Request additional information


Send a message
Share this Listing

Not Interested In This Property? TheBrokerList.com Can Help
Looking for an office, retail space, warehouse or anything else?
Contact a Licensed Member Today

What are Real Estate Incentives?

Real Estate incentives range widely and have been overlooked by the Commercial Multiple Listing Services (MLS) for decades. Real estate incentives is a generic term used to group any number of programs, such as tax incentives, that are designated by an agency for a geographic area."

Why are Real Estate Incentives Important and to Whom?

"Incentives" are vital today and in the future because:

  • U.S. Public: Many incentives focus on job creation and Affordable Housing
  • Investors and Commercial Developers use incentives to reduce financial risk, obtain gap financing, etc. Investors and developers look for property listings with incentives available.
  • Commercial Real Estate Brokers, in mass, unfortunately do not know about incentives tied to their listings
  • Entire Supply Chain of Real Estate Development such as small and large companies who will provide goods and services to new and revitalized properties.