120 Self Storage Units on 1.4 Acres

Madison, AL (Madison County)

Seller Financing Available
120 Self Storage Units on 1.4 Acres

Asking Price:$425,000

Gross Revenue:N/A

Price/Sq. Ft.:N/A

NOI:N/A

Building Sq. Ft.:19,000

FF&E:$2,500

Year Built:1995

120 Self Storage Units on 1.4 Acres

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Property Description

120 units on 1.41 acres with 3 mini-storage buildings (19,000 sf) built in 1995-2000. Gravel Drive with Concrete Curbs. Located on busy 2 lane road nearby Wal-Mart Market, Texaco Station, Dollar General, Fred’s Discount Market with 20 to 25 subdivisions within 5-mile radius. Less than 2 miles from Highway 72.

Fenced with auto gate and auto key pad entry. No manager office on site or security cameras. 4’ x 8’ Sign on adjacent ½ acre lot.

As of 08/16: 73% occupied @ $4,800/month (no marketing, advertising, or website!) Total Gross at 100% would be $7,255/month

Adjacent 0.59 acre is available for $75,000 which would allow for 2 more buildings (80 more units), UHaul Rentals, Portable Storage Units, or RV/Boat/Commercial Equipment Storage!

Contact Shannon Cathey at Shannon@Prime100BB.com or 256-289-1564 for more information.

Detailed Information

Type:
Other Business Real Estate
Building Sq. Ft.:
19,000
Building Status:
Established
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
3 Mini storage buildings. Growing area with numerous subdivisions around. Across the street from Wal-Mart Market, Family Dollar, and Fred's. Seller’s Valuation: 3 buildings: $300,000 Costs for fence and gate, concrete curbs, gravels: $15,000 1.41 acres: $250,000
Financing:
Seller Financing with 60%+ Down
Reason for Selling:
Retirement
Current Property Expenses:
$10,000
Location Description:
Located on busy 2 lane road nearby Wal-Mart Market, Texaco Station, Dollar General, Fred’s Discount Market with 20 to 25 subdivisions within 5-mile radius. Less than 2 miles from Highway 72.
Current and Prior Use:
120 Storage Units. 3 Separate Buildings Units: 49 units 10 x 10 @ $45/month 45 units 10 x 20 @ $70/month 12 units 5 x 5 @ $20/month 6 units 20 x 20 @ $115/month 6 units 15 x 30 @ $130/month 2 units 15 x 20 @ $95/month

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Shannon Cathey

Property Listed By:
Shannon Cathey

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Rich DeLuca

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