Self Storage Details
- Purchase Method: Cash, New Loan
- Number of Storage Units: 70
- Acreage: 3 acre(s)
- Square Footage: 28,000 sqft
- Occupancy: 94%
- Year Built: 2015
- Cap Rate: 8.0%
- Listing ID: 302251
- Posted On: Oct 9, 2012
- Updated On: Jun 18, 2017
Description
3-16-17 revised price...update: new website to self pay, www.rvstoragefritch.com up and running, self pay system. 43 RV Stalls as of September 2015,
operations managed from Houston TX, 600 miles away, RV Stalls Built in 2008 & 2015, The built storage is about 99% full there is also approximately 1 acres of unused property to build on. (or 30 more stalls)
The property has 2 business units. unit 1 rents for $500.00 month and unit 2 rents for $300.00 (the tenant at 300.00 per month to perform all grounds maint. included in his rent, and pays water/ electricity for the entire property estimated value of grounds maint, and utilities is $ 400.00 per month)
2 office warehouse
1 unused office for the premises( could be rented out as a hair salon)
43 covered RV slips ..................23 Covered @ 70.00- and ........20 RV covered @ 90.00 each monthly, and
4 self storage units 30.00 each
20 non covered storage areas units that rent for 25.00 each 14 are being utilized ( located over utility lines, outside parking only), also have great area for future buildings on the west end of the property ( approx 1.0 acre )
EXPENSES : Taxes are 3350.00 per year, insurance runs me 1900.00 per year, you can get cheaper insurance, i prefer the policy i have.
book keeping service. 50.00 monthly online program, transferable to new owner www.rvstoragefritch.com
For more information please call or email
current rent role is 53,760.00 annually as of 3-16-17
the appraisal attached was before we added 20 new stalls, and is out of Date. 10 years ago
REALTOR FRANCIS FROST ATWOOD 806-626-2298 FOR INFO CONTACT HER, all emails will be forwarded to her.
there is no note or lien on the property, it has a clear deed. owner will pay for title insurance and a new survey.
Financial Information (Actual)
Gross Income: | $30,000 |
Operating Expense: | $5,000 |
Net Operating Income: | $25,000 |
Expense Ratio: | 16.7 % |
Debt Info: | 0.00 |