Zoned 20 lots
3 lots empty
4 trailers empty (double wide in good shape)
the other 3 needs to be demolished.
13 lot rent only trailers.
12 paying $320
The on-site management/maintenance pays $100.
City water and sewage
Restaurant on property is excersising its option on there NNN lease in July for 5 years at $1,750 after that they have another 5 year option at $2,250.
Total monthly income $5,690
Water/Sewage averaging $1000
Area lighting $50
Trash $273 (5 year no price increase)
Monthly expenses $1323
Net income around $4,367/month
Property owner wants a quick cash sell and contemplating putting it up for auction.
What’s the value for something like this?
2331 Milledgeville Rd.
Augusta GA 30904