Listed by Superior Capital Advisors
$400,000
Cannon Secure Storage
Details
Property Type Self Storage
Sub Type Non-Climate Controlled
Square Footage 13,880
Units 71
NOI $15,767
Tenancy Multi
Pro-Forma Cap Rate 15.86%
Pro-Forma NOI $63,426
Price per SqFt $29
Buildings 1
Investment Type Value Add
Self Storage | 71 Units
Marketing description
Capitalizing on Jackson's Northside Demand Drivers. 13,880 SF / 70 Non-Climate Controlled Units / 1 Onsite Office with 56% Physical Occupancy / 37% Economic Occupancy. Value Add through Lease up and Future Rental Rate Increases. Cap Rate at 65% Economic Occupancy is 7.6% with a Cash on Cash Return of 7.29%. Cap Rate at 85% Economic Occupancy is 13.31% with a Cash on Cash Return of 26.32%. Fully Fenced and Gated. Boots on the Ground takes care of the property in exchange for a 30x40 unit which rents for $365 per month. Seller is willing to lease back the office space for $500 per month for a period of time.
Investment highlights
- 13,880 / 70 Non-Climate Controlled Units / 1 Onsite Office
- 56% Physical Occupancy / 37% Economic Occupancy
- Value Add through Lease up and Future Rental Rate Increases
- Cap Rate at 65% Economic Occupancy is 7.6% with a Cash on Cash Return of 7.29%
- Cap Rate at 85% Economic Occupancy is 13.31% with a Cash on Cash Return of 26.32%
- Fully Fenced and Gated
- Boots on the Ground takes care of the property in exchange for a 30x40 units which rents for $365 per month
- Seller is willing to lease back the office space for $500 per month for a period of time
Listing Contacts
Listed by Superior Capital Advisors
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$15,767.00
$1,313.92/mo
Valuation Metrics
0
DSCR
3.94%
Cap Rate
3.94%
ROI
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