16 S Industrial Loop, Midland, TX 79701

Commercial / 0 Bedroom(s)

Property Status: Available (Wholesale) | For Sale Available (Wholesale): $1,200,000.00


Property Photos


GREAT STORAGE UNIT FACILITY! OFFERED WITH SELLER FINANCING!


Property Status:
This Property is currently...
  • Status: Available (Wholesale)
  • For Sale Available (Wholesale): $1,200,000.00
Property Details:
Commercial / 0 BR
Property Style:
5+ Units
Year Built:
1972
Finished Sq Ft:
29,320
Basement:
No Basement
Owner / Agent:
Wholesale
Property Features:
No Property Features Listed.
Contact Info
We Offer Options INC
(801) 865-4167

View on Individual's Website
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!


Legal Disclaimer:
This is a Wholesale Deal. The investor is not selling the property for the seller. The investor has the right to market the property, list the property on the MLS (Multiple Listing Service) and advertise the property on any online or offline marketing source as investor choses in order to find a prospective buyer to assign this contract to for an assignment fee.

Utah Real Estate Investors Association is not responsible for the properties or the information listed here. Each Property is independently owned.  Click on the link above to contact the Property Owner about this property.

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