120 Unit Self Storage facility + 11 Parking spots in Madison, Alabama

  ASKING PRICE $825K     Future Value $1.3M at 7.7 CAP 

Description

Pine Grove Mini Storage is nestled in a quiet residential area of Madison, AL off the main thoroughfare of Wall Triana Hwy.

Property Type Industrial          Building Size 19,900 SF          Total Lot Size 0.6 Acres          Year Built 1995

   POPULATION

FILL OUT FORM FOR FINANCIALS 

ABOUT MADISON, AL

Area Vibes has Madison ranked as the second best city to live in Alabama and alot of that has to do with cost of living and the amount of great job opportunities in the area. Another website which I love to look at is Livability and they have Madison ranked as the second most affordable city in the entire state.

        CURRENT NOI $52K  at 60% occupancy and way under market rents (property is has not been marketed for over a year)

     PROJECTED NOI based on 95% occupancy at market rents and 20% expense ratio $96,525

 

Due Diligence 

2020_1012_Pine_Grove_Rent_Roll.xlsx 2020_1012_Pine_Grove_Rent_Roll.xlsx
Size : 17.492 Kb
Type : xlsx

Explanation
Rental rates and vacancies represent a snapshot of this site as of the report date. All standard rates are monthly.

VACC - Vacancy Cost = Gross Vacant Unit Rates
VARC - Cost of Rental Rate Variance (excluding complimentary units) VCOMP - Cost of Complimentary Units
Occupancy

Income - Actual occupied rates as a % of the Gross Occupied Rates

(1) Gross Potential Rates = Snapshot of standard rates of all units, including unrentable (2) Complimentary Units are occupied with rental rate 0.
(3) Actual Occupied Rates = the tenants' rental rates, excluding complimentary units (4) Occupied Rate Variance = the difference between standard and rental rates,

© Copyright Commercial Buyers Club