Athens Storage Development

Investment Overview

Discover an exceptional investment opportunity at 115 McClung Dr in Athens, GA, where zoning for self-storage development has been fully approved, significantly reducing entitlement risk and accelerating the path to development. The expansive 2.138-acre site offers 90,000+ proposed gross square feet and is ideally positioned within a high-growth corridor. With strong visibility from Hwy 29, the property benefits from excellent exposure and accessibility. The surrounding area continues to experience substantial residential expansion, with over 2,000 units approved or under development within a one-mile radius, including multifamily communities, senior housing, and new single-family neighborhoods. This concentrated growth underscores increasing demand for convenient, nearby storage solutions. Strategically positioned in a thriving Athens submarket, 115 McClung Dr presents a compelling, shovel-ready opportunity for investors seeking to capitalize on strong market fundamentals and long-term growth.

Investment Highlights

• Prime Location – The site is situated near U.S. Highway 29, a major thoroughfare with significant traffic, providing excellent visibility and accessibility.
• Strong Demand for Self-Storage – Current facilities in the market are at over 85% occupancy, indicating a strong demand for storage space.
• Growing Residential Market – The area is experiencing significant residential growth, with 2,000 apartment units under development within one mile of the site, creating a steady influx of potential customers.
• High Traffic Volume – The property is located near a major shopping center, which includes a well-known supermarket, ensuring high drive-by visibility.
• Limited Modern Competition – Most competing self-storage facilities in the area are older, first-generation facilities that lack modern amenities such as climate control and security.
• Favorable Demographics – The local population of 72,649 is projected to grow by nearly 4% over the next five years, surpassing the national average.
• Strong Household Incomes – The average household income in the area is $60,334, which exceeds the self-storage industry’s ideal threshold of $50,000, increasing the likelihood of rental affordability.
• Climate-Controlled Units in Demand – Absorption rates for climate-controlled storage will remain below equilibrium even with new developments, making this a strategic investment opportunity.
• Projected Strong Revenue Growth – Feasibility study financial projections estimate an annual revenue of $1.72 million, with a stable 90% occupancy achieved by year three.
• Efficient Use of Space – The proposed facility will have a four-story structure including a basement, maximizing rentable space within a small footprint.
• Minimal Parking Requirements – Athens-Clarke County zoning regulations only require parking for the office portion of the facility, optimizing land use for revenue-generating storage units.
• Zoning & Permitting Approved – The site has received zoning approval for self-storage development, significantly reducing regulatory risk and allowing a clear path toward permitting and project execution.
• Limited Future Competition – With only a handful of proposed storage projects in the region, there is minimal risk of market oversaturation.
• Proximity to Universities – The area benefits from a high number of students who require storage for dormitory items, further driving demand.