STORAGE PORTFOLIO FOR SALE - LoopNet...PORTFOLIO PRICE: $2.299mm TOTAL UNITS: 300 TOTAL SQFT: 46,570...

PORTFOLIO PRICE: $2.299mm

TOTAL UNITS: 300

TOTAL SQFT: 46,570 SQFT

STORAGE TYPE: CLIMATE CONTROL

BLDGS RENOVATED: 2016, 2018

OVERVIEWNewly renovated industrial warehouse in Bay City & West Columbia, Texas have been converted into the only Class A, climate controlled self-storage in their respective areas.. This portfolio is being sold with stabilized income and upside potential. Located on a major thoroughfares, each facility is strategically placed. With hands-off management, and great online presence, these properties offer excellent opportunity for regional expansion.

ANDREW T. [email protected]

The information contained in this presentation is a combination of information provided by Central Metro Commercial and from sources we believe to be reliable. No representations or

warranties, express or implied are made by any party, and no guarantees are made as to the accuracy of this information. Recipients are entitled and encouraged to perform their own

due diligence prior to entering into a contract concerning the property described herein.

CENTRAL METRO COMMERCIAL13497 Hwy 183, Ste 700Austin, TX 78750512.249.7368

UStorIT Bay City, TX & UStorIT West Columbia,TX STORAGE PORTFOLIO FOR SALE

Bay City West Columbia

PURCHASE PRICE: $1,119,000

OCCUPANCY: 93%

CAP RATE: 7.02%

LOT SIZE: 0.517ac

BLDG SIZE: 21,750 SF

BLDG RENOVATED: 2016








PURCHASE PRICE: $1,208,000

OCCUPANCY: PRE-LEASING

START DATE: JAN 2, 2019

LOT SIZE: 1.924ac

BLDG SIZE: 25,000 SF

BLDG RENOVATED: 2018

INDIVIDUALLY PRICED






•  WITHIN 4 BLOCKS OF CITY CENTER

•  NEAR MAJOR RETAILERS

•  LARGEST STORAGE FACILITY IN AREA

•  NEWEST STORAGE FACILITY IN AREA

35

60


Bay City






•  ON HIGHLY TRAVELED ROUTE

•  NEAR MAJOR ANCHOR RESTAURANTS

•  LARGEST STORAGE FACILITY IN AREA

•  ONLY CLIMATE CONTROLLED STORAGE IN AREA

60


West Columbia






•  135 UNITS

•  95% OCCUPANCY



•  163 UNITS

•  6,000 SQFT AVALABLE FOR EXPANSION






Statements have not been audited, reviewed, or compiled. No assurance is provided on them. 3/4

Profit and Loss- Year-To-DateJanuary - October, 2018

Jan 2018 Feb 2018 Mar 2018 Apr 2018 May 2018 Jun 2018 Jul 2018 Aug 2018 Sep 2018 Oct 2018 Total

INCOME

Rental Income 12,239.67 12,728.66 12,717.92 12,135.53 12,105.21 11,645.35 12,003.85 12,975.38 12,021.93 12,856.78 123,430.28

Late Fee Income 140.00 90.00 130.00 120.00 81.00 61.00 110.00 110.00 90.00 120.00 1,052.00

Total Income 12,379.67 12,818.66 12,847.92 12,255.53 12,186.21 11,706.35 12,113.85 13,085.38 12,111.93 12,976.78 124,482.28

GROSS PROFIT 12,379.67 12,818.66 12,847.92 12,255.53 12,186.21 11,706.35 12,113.85 13,085.38 12,111.93 12,976.78 124,482.28

EXPENSES

Repair & Maintenance 616.50 841.50 1,537.58 1,280.81 1,184.49 1,760.36 916.50 666.50 1,429.88 2,396.50 12,630.62

Utilities Expense 867.22 1,469.88 974.49 685.57 701.37 978.10 1,027.55 1,081.31 1,592.19 1,087.17 10,464.85

Taxes 8,706.01 8,706.01

Insurance Expense 707.12 707.12 742.23 1,439.35 702.12 702.12 1,923.75 1,154.25 8,078.06

Legal & Professional Fees 550.00 350.00 350.00 450.00 680.00 450.00 2,115.00 1,510.00 50.00 250.00 6,755.00

Merchant Account Fees 204.01 258.98 218.00 213.83 237.27 204.02 215.43 2,611.21 989.89 1,249.81 6,402.45

Advertising 621.82 447.95 581.11 332.36 335.04 425.33 398.25 376.30 365.18 1,486.01 5,369.35

Office Expense 766.89 437.11 772.45 127.70 167.88 407.95 162.70 479.70 459.35 230.40 4,012.13

Meals & Entertainment 60.64 47.00 29.20 255.69 65.70 317.43 386.24 30.83 317.48 157.06 1,667.27

Total Expenses 4,394.20 3,852.42 5,169.95 4,088.19 4,811.10 13,951.32 5,923.79 6,755.85 7,127.72 8,011.20 64,085.74

NET OPERATING INCOME 7,985.47 8,966.24 7,677.97 8,167.34 7,375.11 -2,244.97 6,190.06 6,329.53 4,984.21 4,965.58 60,396.54

OTHER EXPENSES

Interest Expense 2,200.34 2,213.40 1,981.70 2,184.72 2,106.14 2,167.60 2,090.04 4,687.11 3,920.38 4,136.76 27,688.19

Depreciation Expense 1,891.20 1,891.20 1,891.20 1,891.20 1,891.20 1,891.20 1,891.20 1,891.20 1,891.20 1,891.20 18,912.00

Total Other Expenses 4,091.54 4,104.60 3,872.90 4,075.92 3,997.34 4,058.80 3,981.24 6,578.31 5,811.58 6,027.96 46,600.19

NET OTHER INCOME -4,091.54 -4,104.60 -3,872.90 -4,075.92 -3,997.34 -4,058.80 -3,981.24 -6,578.31 -5,811.58 -6,027.96 -46,600.19

NET INCOME $3,893.93 $4,861.64 $3,805.07 $4,091.42 $3,377.77 $ -6,303.77 $2,208.82 $ -248.78 $ -827.37 $ -1,062.38 $13,796.352018 YTD OPERATING INCOME: $124,482.28

2018 YTD OPERATING EXPENSES: $65,441.31

2018 PROJECTED NOI: $78,529.57

CAP RATE: 7.02%

UNIT MIX – 137 Units

5x10 - qty 29 ...................

10x10 - qty 62 + 2 office

10x12 - qty 6 ...................

10x15 - qty 27 .................

10x20 - qty 11 .................

NRA: 14,820 sqft

% OCC

93%

96%

50%

96%

90%







OCCUPANCY START: Jan. 2, 2019

PRE-COMPLETION OCCUPANCY: 2%

PROJECTED OCCUPANCY MAR 31, 2019: 35%

PROJECTED CASH FLOW MAR 31, 2019: $12,107

PROJECTED OCCUPANCY JUNE 31, 2019: 65%

PROJECTED CASH FLOW JUNE 31, 2019: $40,756

PROJECTED NOI JUNE 31, 2019: $19,563

STABILIZED NOI @ 89% OCC & $84,522

91% mkt rents

VALUE AT 7.00% CAP @ 89% OCC & $1.208 mm

91% mkt rents

UNIT MIX – 163 Units

5 x10 – qty 11

10 x10 – qty 36

10 x12 – qty 70

10 x15 – qty 37

10 x 20 – qty 9

NRA: 18,300 sqft

UPSIDE POTENTIAL

6,000 sqft interior expansion

+$75,000 gross income

8,800 sqft Covered Boat/RV Storage

+$57,000 gross income


HIGHLIGHTS

•  CENTERED IN LOCAL COMMUNITY •  WITHIN 1 MILE OF MAJORITY CITY POPULATION






½ MI.

1 MI.


Bay City

HIGHLIGHTS

•  NEAR HIGH TRAFFIC CORRIDORS •  WITHIN 1 MILE OF MAJORITY CITY POPULATION






½ MI.

1 MI.


West Columbia

HIGHLIGHTS

•  21 MILES BETWEEN PROPERTIES

•  NEWEST CLIMATE CONTROLLED IN REGION

•  WITHIN 50 MILES OF HOUSTON

•  EASY ACCESS TO EACH PROEPRTY






50 MI

25MI

75MI


STORAGE PORTFOLIO FOR SALE - LoopNet...PORTFOLIO PRICE: $2.299mm TOTAL UNITS: 300 TOTAL SQFT: 46,570...

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Transcript of STORAGE PORTFOLIO FOR SALE - LoopNet...PORTFOLIO PRICE: $2.299mm TOTAL UNITS: 300 TOTAL SQFT: 46,570...