301 Glenburnie RdNew Bern, NC 28560

Property Details for 301 Glenburnie Rd

Year built

1976

Lot size

1.64 AC

Property size (Sq ft)

13,107 SF

Property type

Warehouses

Property subtype

Self storage facilities

APN

8-031 -018

APU

8031018

Description

This exceptional self-storage facility in New Bern, NC, presents a compelling value-add investment opportunity. The property, located at 301 N Glenburnie Rd, encompasses 13,259 square feet of climate-controlled storage units across two single-story buildings on a 7.45-acre lot (APN: 8-031 -018, 8-031 -023 and 0-031-019). Built in 1976 and renovated in 1996, the facility boasts 123 units with a current occupancy rate of 97.56% (as of June 30, 2024), generating a NOI of $104,812 and a 5.25% cap rate. A pro-forma NOI of $127,944 and a pro-forma cap rate of 6.41% project significant upside potential. The property includes an on-site rental office offering retail supplies and U-Haul rentals, plus added boat and RV parking (46.4% occupancy). A key advantage is the inclusion of an adjacent 4.9-acre parcel (buyer to verify), providing significant expansion potential. The facility features amenities such as fob and gate-controlled access, perimeter fencing, ample lighting, security cameras, and convenient loading dock and garage door access points. The property is zoned I-1 Light Industrial and situated in a rapidly growing market within Craven County, zip code 28560. The owner maintains a high standard of upkeep, ensuring the facility's attractive appearance and operational efficiency.

• Alternative Use

  Use

  Valuation

  Residential

  $3,636,510

  Hospitality

  $3,331,023

  Educational

  $2,771,372

  Medical

  $2,866,684

  Retail

  $4,311,024

Location Insight

City

New Bern

County

Craven

State

North Carolina

Latitude

35.1382

Longitude

-77.0701

CBSA code

35100

CBSA name

NEW BERN, NC MICROPOLITAN STATISTICAL AREA

Property Tax & Assessments

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