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Self Storage for Sale in Southwestern MS

Southwest Self Storage, LLC is a Mississippi company with two locations in Amite County (Southwestern) Ms: One in Gloster (64 units) and one in Liberty (65 units), run as one business entity.

Gloster has 9,381 sq ft of storage on .74 acres and Liberty has 9,602 sq ft on 1.71 acres. These are the only facilities in the entire county. Together, the average gross income per year is $68,000 to $70,000, with insurance, taxes, utilities, maintenance, postage, and utilities averaging about $11,804 for the two site, yielding an excellent cap rate.

A part-time bookkeeper/manager accepts all income, telephone calls, and leases for about $300 per month and a retired, married couple shows/leases the units in both locations and performs all lock-out services for about $600.00 per month. These independent contractors may stay with the new owners or the new owners can perform all these services and pocket more money each month.

My asking price is $450,000 for the two sites. The Liberty site has excess land on which more units could be built (or a small apartment complex). Occupancy is in the high 90% rate with a waiting list for the smaller units. The sites appraised for $380,000 in July 2005, before my improvements and increased occupancy rate.

Appraisals, bank statements, and income/expense statements available.

Must make appointment for inspection. Rick Normand, 1435 Jackson Avenue, New Orleans, LA 70130. Tel: 504 912 7701, fax: 504 523 9764, email: Rick Normand