Financing Quote                            Self Storage Directory                               Change Your Ad Self Storage Facility For Sale in Lake Side Mini Storage 3547 Malvern Ave Hot Springs, AR   Price: $ 499,000 Number of Units:  126 Acres:  1.3 Gross Income: $ 64,841 Expenses: $ 20,198.48 Net Income: $ 44,152.52 Occupancy:  100% Cap Rate:  9%   The property is 1.3 acres, and currently holds 126 storage units. There is room to add approximately 5 more units, depending on the size of each. There is also a home on the property which is currently lived in by the on sight manager, with an office space in the front of the home. The mini storage is often 100% occupied, and over the last several years the lowest occupancy rate was 97%. At this time, the seller has the manager live in the home as most of her pay. He also gives her 100.00 dollars a week and pays the utilities. This gives the seller the freedom to live his life. The business takes very little of his time. If you follow the formula for a cap rate; annual net income divided by purchase price, you will have a cap rate of 9%. In the past additional revenues were created by subleasing portions of the property to individuals who ran their own businesses from this desirable location. (Limo rental, upholstery shop, computer consulting, and engraving) U haul has contacted current seller inquiring as to making the property a drop off location, which would also increase revenue. U haul is still interested in the transaction. The seller has turned them down a couple times on their offer of 20-23% of each rental. Another great revenue resource is selling boxes and moving supplies. The current manager would run the retail end as well as the drop and pick up. The mark up is 100% on boxes, tapes, packaging supplies etc. There is very little out of pocket costs involved in getting set up. U haul supplies the signs, yellow pages and participation in their emove.com website. There is a 10.00 fee for the web and a 12.00 fee for the phone number to ring on your line. When ordering your retail products, if you want to get your freight for free it is necessary to order a min. of 300.00 at a time. Contact: Cobblestone Realty Emilia D'Auteuil Phone: 501-627-4625 Fax: 501-525-8885 www.hscobblestonerealty.com  For More Information On This Property, Please Call The Phone # Above or Submit The Form Below To Send An Email. Name*   Email*   Phone Number Type your message here Security Field: MUST ENTER the following word into the box below selfstorage   Filling out this form for any reason other than a genuine interest in getting more information about this offering is strictly prohibited.  Please contact the broker or seller only if you have interest in the property.  Any violations of this policy will result in losing all privileges on this website and may result in prosecution. Last Updated: August 16, 2010