Property Description:
GREAT STORAGE UNIT FACILITY! OFFERED WITH SELLER FINANCING!
Cash or Terms will Work!
Easy Value Add!
Property has been renovated!
Just lease up! ADD MORE UNITS!
Storage Units for Sale
51 Units + add 18
EASILY CONVERT THE 200x30 UNIT (warehouse) TO AN ADDITONAL 18 12x30 UNITS! The doors already exist!
That will increase the total units by 17 additional units.
Should be easier to rent the smaller units and create more cash flow.
51 Units (Big Box)
16 South Industrial Loop Midland, TX 79701
Purchase price - $1,200,000
Terms: Cash/Hard or Private Money
OR
OFFERING OWNER FINANCING AS WELL!
Down payment - $275K
Interest – 7% (amortized over 20 years)
Population is 132,000 in Midland
Built in 1972/renovated in 2022
24 hour access
Fenced Lot
Lot – 1.57 acres
Price/sq ft - $48
Building size – 29,320 sq ft
Multiple security cameras
Cloud access to control gate – is run remotely
Owner uses Easy Storage Solutions software
Property has been renovated – over $145,000 this year
Talking to a Leasing Agent that can help lease the units.
Value Add: Increase occupancy to 95%+. Increase rents.
Unit Breakdown: (please open in PC to easily understand)
Size Units Rented Market Rents ACTUAL RENTS
12x30x9 19 0 $180 $180 ($720)
12x40x14 28 4 $240 $240 ($1,930)
24x30x9 1 1 $350 $250 ($250)
24x40x12 2 2 $480 $450 ($900)
200x30x12 (Warehouse) 1 0 $3,000 $0
Warehouse is 6,000 sq ft with 20 9’x9’ garage doors. Electrical inside.
the big warehouse unit that is 200x30 can be converted to 18 12x30 units. That will increase the total units by 17 additional units. Should be easier to rent the smaller units and create more cash flow.
Totals: 51 7 $3,800
Occupancy: 29%
Total Rents: $3,800
(based on 15 units)
(based on 7 units. Two more units have been rented in the last week that are not included in this amount.)
Proforma Income $173,400 x .95 = $164,730
(95% occupancy)
Total Expenses (25%) $41,182
Pro-forma NOI $123,547
Cap 8.8%
My partners HAVE THIS PROPERTY UNDER CONTRACT!
PLEASE ONLY CONTACT REBECCA JENSEN FOR MORE INFORMATION 801-865-4167
PLEASE DIREGARD ANY OTHER EMAILS YOU RECEIVE ABOUT THIS PROPERTY , PLEASE DEAL WITH REBECCA JENSEN ONLY .
Thanks for those of you that took time out to let me know that others where sending this property out with a different price without our permission!