Established 28-Unit Storage Facility - Modern Construction

Manhattan, IL (Will County)

Established 28-Unit Storage Facility - Modern Construction
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Asking Price: $255,000

Cash Flow: $25,000

Gross Revenue: $36,000



Inventory: N/A

Real Estate: $205,000

Established: 2006

Established 28-Unit Storage Facility - Modern Construction

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Business Description

This established storage facility is located in Manhattan, Illinois and has been in business for over 10 years. Mostly block contruction with steel roofs for low-cost, easy maintenance. Current unit breakdown is a follows:

4 12x36 $175 monthly
1 12x40 $200 monthly
1 12x40 with an extra 6x10 attached $230 monthly
13 10x20 $115 monthly
9 6x10 $65 monthly

Monthly gross rent at 100% is $38,520 , but units are overdue for rate increases and current owner plans to adjust as rental agreements come due.

Owner recently paid for an EXTENSIVE professional appraisal in November of 2017 and the property/structures alone were appraised at $205,000 (appraisal available for viewing). Business alone is being valued at roughly 2X net.

For other business investment options, feel free to check us out online.

Detailed Information

Manhattan, IL
Real Estate:
Included in asking price
Building SF:
Reason for Selling:
Owner retiring
Business Website:
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Joe Hollendonner

Business Listed By:
Joe Hollendonner

Washbroker, LTD

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