Multi-Family Space For Lease @ 2860 Banks Mill Rd

Meybohm Commercial is pleased to present this value-add multifamily investment opportunity. The subject property is a twelve unit apartment building with roughly 10.41 acres of land zoned and entitled for the development of 36 (48 total) additional apartment units. The existing units all in good condition and share similar 1,120 SF floorplans with a 2 Bedroom/1.5 Bath configuration. All units are occupied as of the time this property being taken to market and are rented at various rates ranging from $600 to $700. Market rent is estimated to be $715 for similar units. Coupled together, the potential for increased rents and the development potential of the entitled land makes for an excellent value-add opportunity. In total, the property is comprised of 12.3 acres. This space offers accomodations for: lowrisegarden.