3968 Mercer University Dr
Macon-Bibb, GA 31204
Mercer Storage · Specialty Property For Sale · 26,200 SF

FOR SALE | VALUE-ADD SELF STORAGE OPPORTUNITY
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.
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For additional information contact Jason Koenig with KW Commercial directly.