Posted by Jimmy on December 27, 2006 at 12:33:40:
post this one on the commercial real estate board.
Storage Units - Posted by Richard Miller
Posted by Richard Miller on December 27, 2006 at 09:18:42:
I was contacted by the owner of a storage unit that I rent 2 units from, telling me that he was planning on selling his storage business. He’s in his late 60’s and ready to retire. There are 32 storage units (various sizes), that rent for $2080 per month. Average price per unit is $65, which I think could be raised somewhat. It is fully rented at this time. There is also a 2 bedroom apartment located on the property that rents for $450 per month. It sits on 1 acre and has room for an additional 10 - 15 units to be built on the property.
The asking price is $175k. Does this sound like a good deal? TIA. - Richard