Contact Information
Self Storage Details
- Price: $2,926,000
- Listing ID: 112560
- Posted On: Sep 19, 2012
- Updated On: Sep 19, 2012
Description
Pogoda Group is pleased to offer for sale a bank owned self storage portfolio. All four properties are located in the Greater Port Huron market. All locations benefit from excellent visibility, access, traffic density, and are within 20 minutes of each other. The purchase of the portfolio would allow the buyer to control the immediate self storage market. The properties, formerly known as Secured Storage Systems, were repossessed a year ago, at which point the bank hired a professional self storage management company, Storage Pros, to manage the properties. Since then, each property has shown an increase in both occupancy and revenue. The new buyer will have the opportunity to continue this forward momentum and further increase occupancy and rental rates.
Financial Information
Gross Income: | $731 |
Operating Expense: | $447 |
Expense Ratio: | 61.1 % |