Photo of Self Storage Facility
Photo of Self Storage Facility
Photo of Self Storage Facility

Self Storage Details

  • Listing ID: 299053
  • Posted On: Oct 9, 2012
  • Updated On: Oct 1, 2014

Description

Owosso Mini Storage consists of 273 storage units - 243 drive-up and 30 climate controlled in seven buildings ranging in size from 5x10 to 10x30. RV/boat storage is available at the back of the property and presently 21 spaces are leased with the opportunity to add more spaces on the vacant gravel. A site office (512 square feet) was constructed to handle storage inquiries while a stand alone building resides directly on Main Street housing retail downstairs (3,000 square feet) and three apartments above. Additional storage of up to 20,000 square feet can be constructed on the property. Owosso Mini Storage was built in 1991 and renovated in 2005. The property is currently 79 percent physically occupied. The storage buildings are of metal construction on concrete foundations with metal roll-up doors. A prospective owner can capitalize on the property location and continue to improve the occupancy whiling enjoying a strong cash flow.

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Financial Information

Gross Income: $169
Operating Expense: $99
Expense Ratio: 58.6 %