Business Overview:
Property highlights:
Completed Project Underwriting Docs:
5.90% Cap Rate with 5% Vacancy
NOI $336,096
-Phase 1 and Phase 11 completed with Phase 111 to be completed by the Buyer!
-Experienced Management Company in place!
-Office and Restrooms completed, ADA compliant.
-Low maintenance operation!
-Surrounded by residential rooftops.
-Close to retail including Walmart & Walgreens.
-Great Location with High Traffic Counts!
-24-Hour Kiosk available!
-Security Cameras in use!
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Property Features and Assets:
-173 units completed in Phase 1! (39,916 square feet) 99% occupied
10x10 (8) 10x20 (23) 10x22 (44) 10x25 (58)
10x30 (33) 4x9 (3) 4x14 (2) 9x10 (1) 9x14 (1)
-69 Units completed in Phase 2 (12,050 Square feet) Completed in January
10x15 (35) 10x20 (34)
-220 Units are planned for Phase 111
10x10 (28) 10x15 (139) 10x20 (53)
-Located on 5.30 acres and has gate code access!
Market Competition and Expansion:
Area growing fast and facility filling up fast!
Reason for Selling:
To move on to other project.
Additional Details:
- The property is owned.
- The owner is willing to train/assist the new owner.
- This is not a homebased business opportunity.
- This is not a franchise resale opportunity.
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