Independent Self Storage Facility and Ten Acres For Sale

Business description

The property is just outside of Birmingham, in Bessemer, AL. The facility is well maintained, clean, with excellent visibility from the 4 lane Super Hwy that it is located on. Clientele is a mix of nearby residence and mobile home park tenants as well as from the US Steel plant within 5 miles, a US Pipe and Fitting plant (which is expanding), and UBA Hospital. The facility is located just off of Interstate 20 and again, is located on a major thorough fare. The property is protected by a gate entrance way that closes at 9 pm. They currently are using QuikStor software for their management system and QuickBooks for their accounting.

Property information

Real Estate:

Real Property Included

Living accommodation:

There is a manager on site in a manager's apartment that is one of the nicer ones we have seen.

Location:

There are 156 units that are running at 98% occupancy. The $1,950,000 asking price is based upon the current facility at 9% CAP on existing cash flow, plus the additional 8 acres. This property is extremely organized and well run and consists of 4 BETCO buildings of approximately 24,000 SF.

Other information

Expansion potential:

There is roughly another 8 acres directly behind the current buildings that are well graded and ready for expansion.

Competition / Market:

There is not a lot of competition in the general area. It just so happens Uncle Bob's is right next door (The current owner sold property to Uncle Bob before opening up his facility). To the east of the facility there is some city expansion; however, to the west of the facility Bessemer is growing and upgrading. There is a 700 home development under construction within 5 miles and a new mall planned within 4 miles right off the interstate.

Support & training:

Two weeks at no additional cost

Reasons for selling:

Owner is retiring

Financing available:

80% downpayment for qualified buyer