Armor Storage, Logan
Asking Price $8,750,000
976 Units on 11 Acres with 1 bedroom home on site for manager.
Pro Forma CAP Rate 8.5% with projected rent increases.
Well built and well managed.
Listing Agent Remarks: "High demand STORAGE UNITS, outside spaces, some climate controlled units. 1 bedroom home & office currently rented to on-site manager. Security gate access, door alarms, asphalt shingles, asphalt paving & many more features. Cap rate is projected at 8.5."
Seller is NOT very motivated to sell. They build, manage and sell SS as a family and want to sell this to move onto another project. But they are not desperate to sell. They have already turned down a good offer. I am assuming that they are going to hold out for a full price offer which is overpriced in my opinion.
Asking Price $8,750,000
976 Units on 11 Acres with 1 bedroom home on site for manager.
Pro Forma CAP Rate 8.5% with projected rent increases.
Well built and well managed.
Listing Agent Remarks: "High demand STORAGE UNITS, outside spaces, some climate controlled units. 1 bedroom home & office currently rented to on-site manager. Security gate access, door alarms, asphalt shingles, asphalt paving & many more features. Cap rate is projected at 8.5."
Seller is NOT very motivated to sell. They build, manage and sell SS as a family and want to sell this to move onto another project. But they are not desperate to sell. They have already turned down a good offer. I am assuming that they are going to hold out for a full price offer which is overpriced in my opinion.
Aspen Pine Storage
Additional Investment Properties:Customform Countertops Building
Downtown Orem close to State Street
Asking Price: $1,165,000 8.75% Cap Rate $101,846 NOI
True NNN Lease/8 years remaining/3% Annual Increases
Combination Retail & Manufacturing
Strong Established Business
Tooele Mobile Home Park Asking Price: $895,000. Cap Rate 9% Actual Seller Finance with $250k down Huge Upside Potential
Property Description:22 Space Mobile Home Park. 421 N 200 West, Tooele. 22 spaces,
14 owned and rented, 1 storage trailer, 3 vacant lots ready to fill,
10 storage units, Gross income $97,956 Expenses $18,000, NOI $79,956.
Cap Rate 9%. Units always rented!!! Tenants are unaware of sale. Do not bother tenants!
With $250,000 cash down, seller willing to finance remainder
at 7% interest for 3-5 years!
Owner is in the process of purchasing trailer in lot # 15,
which will increase NOI to $83,796.
Chips Car Wash
4298 S Redwood Road, Taylorsville
Asking Price: $610,000 Cap Rate 9.5%
Property Description: 4 SELF-SERVE BAYS; 1 AUTOMATIC BAY; LARGE STORAGE BAY WITH ROLL-UP DOOR; LARGE EQUIPMENT ROOM WITH OFFICE; 5 VACUUM STATIONS; MULTIPLE PRODUCT VENDING; CLOSE TO SALT LAKE COMMUNITY COLLEGE & MAJOR RETAIL
