Self Storage Facility Mogul in Missouri

[Steven May]

Investment Info:

Industrial commercial investment investment.

Purchase price: $1,050,000
Cash invested: $50,000

Purchased self storage facility #8 - technically we sold one off so we have 7 locations in our portfolio. This one is located in the same market of 6 of our current locations - this puts us a 700 units within 10 miles of each other. This one consisted of 12 mini industrial / contractor units and 20 large RV & boat storage / self storage units. This sits on 3 acres and also has canopy covered parking and outdoor parking spaces. Purchased at a true 9 cap based on current owner profit and loss statement - appraised for 50k more than purchase price. Plan is to increase rents over time. We utilized a line of credit we have and a seller carry back note to only have to bring 50k down payment on a 1 M purchase. Year 1 cash on cash return of 20%+.