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Updated almost 7 years ago,

User Stats

28
Posts
2
Votes
Theodore Jackson
  • Property Manager
  • Chicago, IL
2
Votes |
28
Posts

purchasing storage facilities?

Theodore Jackson
  • Property Manager
  • Chicago, IL
Posted

Does anyone have experience with purchasing storage facilities? I am looking for an existing facility. I'm not sure if it a good Deal. should I apply for an SBA loan or conventional?

                                                           2016             proforma

                      
Gross Operating Income $44,270.00                  $50,148.00
Insurance $1,344.00 $1,344.00
Marketing & Advertising $530.00 $530.00
Office Supplies $48.00 $48.00
Repairs/Maintenance $1,136.00 $1,136.00
Property Taxes $7,260.00 $7,260.00
Phone/Internet $120.00 $120.00
Utilities $995.00 $995.00
Total Operating Expenses $11,433.00 $11,433.00
Net Operating Income $32,837.00 $38,715.00 

 ASKING 389.000  

There are saying in 2017 is was about 46,500

1. Acres  

Rentable  13,640  S/f 

80 unit 90% Occupancy     

8.5% cap

10.0% Cap pro-forma   

Thanks!