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18340562
18607945

5689 State Hwy 290, McKee, KY 40447

RL
KY KY 265585
KW Commonwealth
Listed by KW Commonwealth
$695,000
718 days on market
Updated 57 days ago

Highway 290 Storage

Details
Property Type Self Storage
Square Footage 364,597
Net Rentable (SqFt) 17,731
Units 56
Cap Rate 5.97%
NOI $41,520
Occupancy 98%
Tenancy Single
Lease Type Gross
Year Built 1979
Year Renovated 2018
Buildings 6
Stories 1
Acreage 7 - 7.37
Parking Spaces 15 spaces
Parking Per SqFt 0.04
Ceiling Height 25
Ownership Owner Operated

Fully Operational and Established storage business with 98% occupancy

Marketing description

Fully operational and established storage business with 98% occupancy. Storage unit sizes are: 4 - 8'x9'; 2 - 8'x10''; 24 - 10'x10'; 12 - 1'0x12'; 9 - 8.5'x14'; 1 - 14'x30' for a total of 52 units. The barn has 3744 square feet with 3 driveways and 3 storage bins on one side. The barn was constructed with a block and concrete foundation. The apartment has 2 bedrooms with 2 bathrooms attached to a 36' x 60' garage. The apartment has double insulation in the ceiling and walls. There is a security system with 8 cameras installed that will convey with the sale.

The 72'x84' red building has a 14'x36' storage unit that is being used for personnel storage by the owner. The 72'x84' building can also hold approximately 5 RV units. Access to the property is by a blacktop and a gravel driveway, all on approximately 7+ acres. Seller request 30 days to remove personnel items from large buildings. The buyer/new owner can take possession of the rental property at the time of closing. There is some equipment that can be purchased separately from the purchase of the property. The property has ample room to add more storage units, apartments or houses.

NOTE: Property Outline in the DRONE pictures is an estimate. Buyer and/or buyer’s agent are to verify the number of acres, school district and the square footage of the storage units and buildings.

Listing Contacts

RL
KY KY 265585
KW Commonwealth
Listed by KW Commonwealth

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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$41,520.00
$3,460.00/mo

Valuation Metrics

0
DSCR
5.97%
Cap Rate
5.97%
ROI

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Additional Information

Name
Robert Linville
License
KY 265585
Brokerage
KW Commonwealth
Brokerage Phone
859-721-2121
Title
Bo Smith
Brokerage Address
1908 Bryant Road
*All information is deemed reliable but not guaranteed. Buyer to verify all information.
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