Morgantown, WV Self-Storage Offering with Significant Upside
Price: $4,500,000
Price/SF: $70.25
Assumable Loan of $2,230,000 | 8.5 Years Remaining | 5.37% Interest Rate | 25 Year Amortization | 1% Assumption Fee
64,057 Net Rentable Square Feet
Expansion Plans: Prime Opportunity to Convert Indoor Boat Storage Warehouse Into Additional 22,425 SF of Climate Controlled Storage to Dramatically Improve The NOI and ROI on the Deal (Seller Quoted at $781,213 by Heartland Building Group)
Current Physical Occupancy: 78.62%
Current Economic Occupancy: 76.53%
Current Cap Rate: 5.28%
Year 1 Cap Rate: 6.67%
Year 2 Cap Rate: 7.05%
Year 3 Cap Rate: 7.45%
Year 5 Cap Rate: 8.38%
Year Built: 2012
37 CC Units, 123 NCC Units, 107 Indoor Parking Spaces, and 18 Covered Parking Spaces
Recent Capital Expenditures: New Roof & Siding on Boat Storage Warehouse
Excellent Visibility Along Tyrone Road
#1 U-Haul Dealership in West Virginia
Growing Surrounding Population Base | Population Within a 5-Mile Radius has Grown by 26.8% Since 2000 and is Projected to Grow an Additional 1.4% in the Next 5 Years
