Listed by Franklin Street Tampa
$4,337,000
SAFE STORAGE USA PORTFOLIO
Details
APN PREE M:008 B:343 L:052, MHIL M:01 L:025A
Property Type Self Storage
Sub Type Self Storage
Square Footage 53,076
Net Rentable (SqFt) 53,076
Units 368
Cap Rate 7.31%
NOI $317,021
Occupancy 97.01%
Tenancy Multi
Pro-Forma Cap Rate 9.38%
Pro-Forma NOI $406,801
Price per SqFt $82
Class B
Year Built 2004
Buildings 12
Acreage 5.550
Self Storage | 7.31% CAP | 368 Units
Marketing description
Highly Occupied and Cash Flowing Self Storage Portfolio Comprised of 368 Non-Climate Units Totaling 53,076 Net Rentable Square Feet. Both Locations Are Managed by an Out-Of-State Owner, Allowing the Buyer to Purchase an Efficient and Remotely Managed Operation That Cash Flows From Day One. Facilities Are Located Less Than 15 Minutes From Each Other, Allowing for Management & Operational Efficiencies. Climate-Control Office at Presque Isle Location Could Be Reconfigured to Increase Number of Storage Units. Opportunity to Increase Revenue By Taking Advantage of the Available Expansion Land at the Mars Hill Location.
Investment highlights
- Highly Occupied and Cash Flowing Self Storage Portfolio Comprised of 368 Non-Climate Units Totaling 53,076 Net Rentable Square Feet
- Both Locations Are Managed by an Out-Of-State Owner, Allowing the Buyer to Purchase an Efficient and Remotely Managed Operation That Cash Flows From Day One
- Facilities Are Located Less Than 15 Minutes From Each Other, Allowing for Management & Operational Efficiencies
- Climate-Control Office at Presque Isle Location Could Be Reconfigured to Increase Number of Storage Units
- Opportunity to Increase Revenue By Taking Advantage of the Available Expansion Land at the Mars Hill Location
- Facilities are Operating at Nearly 100% Occupancy, Which Should Allow for Steady Implementation of Existing Customer Rent Increases
- Low Expense Load Thanks to Relatively Low Property Taxes and a Boots-on-the-Ground Employee Who is Willing to Remain After the Sale
- Presque Isle and Mars Hill are Located in the Breathtaking Countryside of Northeastern Maine Along the US-Canada Border
Listing Contacts
Listed by Franklin Street Tampa
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Loan Amount
$0.00
Annual Debt Service
$--
$--
Annual Cash Flow
$317,021.00
$26,418.42/mo
Valuation Metrics
0
DSCR
7.31%
Cap Rate
7.31%
ROI
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