Self Storage For Sale • 29,920 SF
Garner Mini-Storage is comprised of 273 units totaling 27,664 SF. Occupancy is 87%. The 42 “vacant” units all either need repairs or are owner occupied. Each of the units is a detached, free-standing structure with a hinged door. Unit sizes are 8x10, 8x12, 8x16, 8x20, and 8x24. The offering also includes a 2,256 SF, four-bay auto repair shop leased to North Auto Repair. The facility is currently self-managed. The facility is marketed via exterior signage and word of mouth. Tenants pay rent via cash, check, money orders, and credit cards. Credit card payments are facilitated using Payanywhere. All leases are month to month and include a security deposit, late fees, and other administrative fees. The Lease template can be shared with a signed confidentiality agreement. A typical unit turn involves metal caulking (if any holes exist) and cleaning.
| Immediate Cash Flow with Upside |
| Value-Add Opportunity |
| Additional Income from Auto Repair Shop |
| Strong Demand Drivers |
| Expansion Possibilities |
| Cap Rate: | 8.63 % |
| Total Expenses: | $42,349 USD |
| Tenant | SF Occupied | Lease End Date |
|---|---|---|
| Garner Mini Storage |
| Commuter Rail | Drive | Walk | Distance |
|---|---|---|---|
| Raleigh Union Station (Piedmont - North Carolina by Train (NC Train)) | 9 min | - | 4.6 mi |
| Airport | Drive | Walk | Distance |
| Raleigh-Durham International | 27 min | - | 18.5 mi |
| Parking Available: | Yes |
| Reserved: | No |
| Spaces Provided: | 12 |
| Type: | Surface |
| Included in Rent: | Yes |