Self Storage Details
- Purchase Method: Cash, New Loan
- Number of Storage Units: 164
- Acreage: 2 acre(s)
- Square Footage: 31,001 sqft
- Occupancy: 74%
- Year Built: 1990
- Cap Rate: 10.7%
- Listing ID: 1429826
- Posted On: Apr 28, 2021
- Updated On: Apr 28, 2021
Description
The Storage Spot is a self storage facility in fast growing Livingston Parish, Louisiana. It currently has 31,001 of rentable square footage and sits on approx. on 2.3 acres. It has a combination of mini storage as well as a newly completed RV & Boat Storage. The breakdown is as follows:
5x5 - 9
5x10- 16
10x10- 49
10x15- 28
10x20- 36
12x40 - 25 RV & Boat Storage
Facility has an office with a 2 bedroom apartment attached. The entire property has been remodeled over the last five years that includes new fencing, office, entire facility repainted, the roofs resealed, entire back lot cleared and leveled for parking.
The property has over 350 feet of Highway frontage along Florida Blvd, HWY 190. There are many new subdivisions, and businesses moving to the area as Livingston Parish is in the top 10 school districts in Louisiana.
We are offering this facility at less than $36 per square foot. With land to expand it's an incredible investment opportunity in a growing and sought after area!
Contact Tom Theriot @ (702) 280-0622
Financial Information (Actual)
| Gross Income: | $93,500 |
| Operating Expense: | $35,000 |
| Net Operating Income: | $58,500 |
| Expense Ratio: | 37.4 % |