New Storage unit facility located near a University, has great potential if marketed correctly. Current owner has managed to aquire renters with little advertising and effort. Owner can't afford the extra money for payments due to financial difficulties right now, so he is looking to sell fast.
The units sit on 1.5 acres. It cost the owner $950,000 to build them with out the land. I have listed the 2.5 acres adjacent to the complex at $130,000 per acre. Originally listed at $1,350,000.00 that puts the hard cost at $1,145,000 and they are listed for $1,100,000. It has been open for a year and the occupancy rate is 31% with 70 currently rented, there are 225 total units ranging from 5x10-10x30.There is a block wall all around complex, coded entry gate,completely paved and 12 surveillance cameras which can be monitored from home internet. Monthly cash flow is $3,200 right now, with alot of potential to make far more. If you are or you know of someone looking for storage facilities, please refer them on to me, I offer referral fees.
Thank you for your help,
Coldwell Banker Premier Realty