Services - Storage & Warehousing

Asking Price	$1,695,000	Inventory
Gross Income	$142,924 Proforma	Real Estate
Cash Flow	Not Disclosed	Year Established	1980
FF&E	N/A	Employees	N/A

* included in the asking price

** not included in the asking price

The property is approximately 125 feet wide by approximately 160 feet deep. Two rigid steel frame buildings with concrete block side and end walls, galvanized metal sheet roofs and galvanized metal sheet front walls are on the property. The buildings are joined together along the common side wall. The buildings face Division Street with sufficient on-site space for parking vehicles and trucks making deliveries. The building end wall and side walls are essentially along the property lines. The buildings were converted to a self storage facility in 1980 by adding a second floor, three stairways, a freight lift and interior wall partitions. The present owners purchased the facility in 1983 and have operated the business since then. The present configuration of the mini storage is 273 rental spaces totalling 20,474 available square feet of rental space. The mini storage rental spaces are of different sizes, varying from a small 4x6 to a large 20x21 unit. With one exception, all the storage units are located inside the building, opening off interior corridors. All first floor storage units have metal walls and metal roll-up doors. All second floor units have sheet rock walls and wood 3-0 by 6-6 hinged doors. The one outside unit can be accessed at all times. The 272 interior storage units can only be accessed during office hours when employees are present in the facility. Storage customers are requested to enter the office and register on a sign-in sheet before going to their rental space. The storage units are leased on a month-to-month basis with the lease period commencing on the date the day the unit was rented. The lease agreement automatically renews for another month s period unless terminated by either party before the renewal date. Security deposits are not taken, although a few storage customers had placed deposits when originally entering into the lease agreement.