Self Storage Facility Approved for Expansion

For Sale

2020 Electric Ave.,Lackawanna,NY

Self Storage Facility Approved for Expansion

PROFORMA

 Features:

 Approved for additional  48,000 sq. ft. of self storage space

  • New drainage system
  • 1 mile from Interstate 90
  • LotSize: 3.30 acres

 House/Office:

  • Built in 2008
  • 3 bedroom, 2 bathroom managers house with 1600 sq. ft. living space and an additional 700 sq. ft. office with restrooms open to the public.

 Current Self Storage:

  • 5000 Sq. Ft  (30 units)
  • Built in 2006
  • Occupancy at 100% and there is a waiting list
  • Fully rented

 Current Outside Storage:

  • 3 acres
  • cars, trucks, boats, RV’s’ etc.

 Current Yearly Income    $79,800

 Yearly Expenses:

Taxes      $10,100

Plowing   1,200

Electric    1,800

Liability insurance  1,800

Total yearly exp.             $14,900

 NOI:                     $64,900

 CAP RATE:           16.22%

After Build out: there will be an additional $24,000 monthly income for inside storage units for a total possible monthly income of $30,650 and a total possible yearly income of $367,800.

Reduced Price: $400,000

Address
Lackawanna, New York 
Price
$400,000 
Square Foot
5000 
Lot Size
3.3 acres