Listing Number: 71790-957277
This confidential business is comprised of commercial real estate valued at $13,017,463 (9.4% Cap Rate) and a self-storage business with cash flows valued at $990,033 (1.5 X EBITDA). Total purchase price is $14,007,496.
The current ownership is divesting to fund the development of adjacent properties currently under their ownership.
The building is situated on a 79,085 square foot parcel, zoned B3, it is a three-story 97,023 square foot facility constructed of high-tech hardened concrete and iron. The building did not suffer any damage on November 20, 2018, in the wake of a 7.0 earthquake.
The first two floors are dedicated to self-storage (59,000 square feet) while the upper third floor, which is at ground level curbside to a major arterial consisting of 33,231 square feet of stylish Class A office space. The facility currently has a 4.92% vacancy rate overall.
INDOOR SELF-STORAGE & U-HAUL DEALERSHIP
This climate-controlled indoor storage facility has two covered drive-up entry doors with direct access, 8-5 on-site management, and excellent signage. Access is automated for a weekend or after-hour entry and exit while lighting is activated by zone-controlled motion detection sensors to conserve electricity.
Millennials are in part shaping the self-storage industry preferring to live with a smaller footprint and de-clutter. They tend to need storage services more than previous generations as a general rule.
On the other end of the spectrum, Baby Boomers are defining self-storage as they go through residential downsizing. This trend in downsizing creates a unique data point when analyzing the self-storage asset class. There are 10,000 Baby Boomers turning 65 years of age each day for the next 15 years.
- Price: $14,000,000
- Down Payment: TBD
- Sellers Discretionary Earnings: $81,000
- Total Sales: $1,737,821
- Location: Anchorage, Alaska
- Inventory: $0
- FF&E: $0
- Employees: 2
- Year Established: 2009
- Reason for Selling: Time for a change
- Category: Real Property Rltd