Self Storage Details
- Purchase Method: Cash, Seller Financing, New Loan
- Number of Storage Units: 89
- Acreage: 10 acre(s)
- Square Footage: 16,925 sqft
- Occupancy: 84%
- Year Built: 2001
- Cap Rate: 7.4%
- Listing ID: 295502
- Posted On: Oct 9, 2012
- Updated On: Jul 26, 2013
Description
Storage One is located on the north side of State Highway 86, 3 miles east of the Walmart Supercenter in Elizabeth, Colorado and offers 417 feet of Colorado Highway 86 frontage. There are 89 self-storage units including a 1375 sf work shop and space for 45 RVs, boats or trailers on just the front 4 acres of the property. With a total site size of over 10 acres, there is plenty of room to expand your new business.
The storage units are currently 83% occupied and 66% of the parking spots are still available which will allow for a considerable profit increase at full occupancy and a Pro Forma CAP rate of 10% as well as additional sales income potential from truck rentals, storage container delivery, moving supplies, locks, etc.
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Financial Information (Actual)
Gross Income: | $88 |
Operating Expense: | $10 |
Net Operating Income: | $73 |
Expense Ratio: | 11.4 % |