Self Storage for Sale
Murrieta, CA
Price: $6,999,999

Bee Safe Storage is a self storage and RV/boat storage facility-it has 36,375 net rent-able square feet of self storage space comprised of 265 storage units ranging in size from 5x10 to 10x15 and another 87,805 net rent-able square feet of boat and RV storage in a total of 270 outdoor spots ranging in size from 10x15 to 11x50. The facility is located in Murrieta, California. The property sits on approximately 5.69-acres, and is located off a very busy street with high visibility. This 535-unit facility features all metal construction with a 14' cinder block wall surrounding the entire site and all rv/boat parking is on concrete. The facility was developed in 2004 and is currently 85.5% percent physically occupied and 79% percent economically occupied. The property has numerous amenities, including electronic gates with key pad entry, security cameras, and a large two bedroom/one bathroom on-site residence with fireplace and balcony. The facility has a very desirable unit mix, in a convenient, drive up, ground level layout with no indoor or second level units.

The city of Murrieta is a thriving community of nearly 105,000 located in Riverside County. Average household income is over 90,000. The close proximity to recreation provides a steady customer base for boat and RV storage.

The entitlements allow for additional storage units to be built in place of RV parking. This creates added value for those focused on storage units, because you won't have to experience lengthy delays and money in entitlements.

Gross Income 524,000
Total Expenses (Excluding Mtg) 116800
Net Income 407200
Cap Rate 6%
Occupancy % 85%

Michael Delaney
951-850-2548