Services - Storage & Warehousing | Services - Other Miscellaneous services

Asking Price	$899,000	Inventory
Gross Income	Not Disclosed	Real Estate	$899,000*
Cash Flow	Not Disclosed	Year Established	N/A
FF&E	N/A	Employees	N/A

* included in the asking price

** not included in the asking price

The business could be enhanced with the following: 1. More effective on-site management. 2. Yellow pages advertising 3. A web presence. Self storage is a demand-based business; customers arrive at the office or call the office when a need for storage arises. Accordingly, when a potential customer determines that they need storage, they call or simply drive to the storage location. Customers determine who to call or to visit based upon Yellow Pages or Internet advertising, referrals from friends, or knowledge of self storage locations. When they call or visit they expect a phone to be answered or an office to be open. This business offers reliable office hours of 9 a.m. to 1 p.m. The manager leaves the premises at lunch time. Accordingly, potential customers calling or visiting will not be served and will go (or call) elsewhere. The sign on the door states: Afternoon Hours Are Subject to Change and the phone when answered by the answering machine simply states that the business is closed or the manager is outside. Instituting more customer-friendly hours would likely result in substantially more rentals. Although without exception competitors use the Yellow Pages, this operation has only a bold-face listing in the Yellow Pages. It s a testament to the quality of referral and drive-by business that their occupancy exceeds 70% without this vital advertising. Occupancy could likely be substantially increased with such advertising. As a demand based business, potential customers consult the Yellow Pages when they need storage. As use of the Internet has exploded over the past several years many potential customers have discontinued using conventional telephone books to locate storage facilities. This business has no web presence but could likely increase demand by establishing a low-cost web site. This successful business provides substantial cash flow after all expenses and mortgage principal and interest payments are made.

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Facilities: The self storage business was started in 1999. The buildings occupy a site of about 1.63 acres and include over 22,900 square feet of rentable space. The entire area is paved with quality asphalt drives. An adjacent lot is currently used for recreational vehicle storage and includes .87 acres providing room for over 10,000 square feet of additional buildings. Also included are two nearby fenced recreational vehicle storage lots comprising over 1.43 acres. This offering includes approximately 3.93 total acres. There are four storage buildings

Competition: Elite Self Storage is well located with visibility from a busy road with a mix of neighboring businesses including national retailers such as Lowe s, Kohl s, Staples, Dick s Sporting Goods, Elder Berman, Marshall s, Bed Bath & Beyond, an automobile dealership, national restaurant chains including Applebee s, Big Boy, Steak n Shake, Texas Roadhouse Waffle House and other service businesses all contributing to a nice mix of potential customers. These customers reside in the many nearby homes and apartments and travel the route on a frequent basis.

Support/Training: As needed

Reason Selling: Preparing for retirement