441 Hackel DrMontgomery, AL 36117

Property Details for 441 Hackel Dr

Year built

1981

Lot size

2.64 AC

Property size (Sq ft)

1,560 SF

Zone code

M-1

Property type

Office buildings

APN

10-01-01-4-002-001.006

APU

1001014002001006

Description

This exceptional investment opportunity presents a 49,676 square foot self-storage facility located in Montgomery, Alabama. Comprising nine single-story buildings on a 3.75-acre lot, the property boasts 425 units and offers significant upside potential. Built in 1981, the facility currently operates at 64% occupancy, generating a Net Operating Income (NOI) of $72,829. However, a pro-forma NOI of $175,731 is projected, reflecting the potential for substantial revenue growth. The property is priced at $2,100,000, representing a compelling $42.27 per square foot and an 8.37% pro-forma capitalization rate. The property features 28 parking spaces and is strategically located at two addresses: 441 Hackel Dr and 915 Plantation Way, Montgomery, AL 36117. The strong surrounding population, with over 32,000 residents within a 3-mile radius and over 100,000 within a 5-mile radius, provides a robust market for self-storage services. Further, below-market rents present a clear path to increased profitability through market rate adjustments. This property offers a rare chance to acquire a well-positioned asset with considerable room for improvement in occupancy and management efficiency. The current asking price is significantly below replacement cost, making this a truly exceptional investment opportunity.

• CAP approach

  CAP return

  Valuation

  6%

  $202,100

  6.5%

  $186,553

  7%

  $173,228

• Comparable approach

  Method

  Valuation

  Relative Method

  $304,294

  Geo Method

  $304,294

• Alternative Use

  Use

  Valuation

  Residential

  $231,326

  Hospitality

  $211,894

  Educational

  $176,293

  Medical

  $182,356

  Retail

  $274,234

Location Insight

City

Montgomery

County

Montgomery

State

Alabama

Latitude

32.3965

Longitude

-86.2083

CBSA code

33860

CBSA name

MONTGOMERY, AL METROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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