Mini-Storage and Warehouse
Two units of income production come from this warehouse and mini-storage located very close to a signalized intersection. 68 unit mini-storage grossed $40,950 in 2008. The mini-storage is 4 buildings with a gross building area of 7,750 sf. Includes two electric gates, electricity to each unit and water spigots outside. Sizes include 10’X10’ (40 units), 10’X15’ (24 units) and 8’X15’ (4 units).

Warehouse area is comprised of 3 contiguous areas with offices and the total area is 11,758 sf (Appx. 1,588 sf of mezzanine included). Total square building footage is 19,508 sf located on over 1 acre.

Conservative Proforma Cap Rate of 8.50% based on warehouse area leasing at .40 cents per sq ft/month + Actual 2008 Mini-Storage income of $40,950. I used a 6% vacancy rate and subtracted 25% of remaining gross income as expenses.

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