SELF STORAGE PORTFOLIO

Transcription

1 FOR SALE INDUSTRIAL SELF STORAGE PORTFOLIO 5 Property Self Storage Portfolio Kewanee, IL PROPERTY HIGHLIGHTS 5 Sites 47,000 Net Rentable Sq Ft 300 Units Over 90% Occupancy Limited competition PRESENTED BY: David Coupe Senior Advisor david.coupe@svn.com Less than 3 Sq Ft of Self Storage per capita 2 Apartments for additional revenue or management All SVN Offices Independently Owned & Operated.

2 DISCLAIMER The material contained in this Offering Brochure is furnished solely for the purpose of considering the purchase of the property within and is not to be used for any other purpose. This information should not, under any circumstances, be photocopied or disclosed to any third party without the written consent of the SVN Advisor or Property Owner, or used for any purpose whatsoever other than to evaluate the possible purchase of the Property. The only party authorized to represent the Owner in connection with the sale of the Property is the SVN Advisor listed in this proposal, and no other person is authorized by the Owner to provide any information or to make any representations other than contained in this Offering Brochure. If the person receiving these materials does not choose to pursue a purchase of the Property, this Offering Brochure must be returned to the SVN Advisor. Neither the SVN Advisor nor the Owner make any representation or warranty, express or implied, as to the accuracy or completeness of the information contained herein, and nothing contained herein is or shall be relied upon as a promise or representation as to the future representation of the Property. This Offering Brochure may include certain statements and estimates with respect to the Property. These Assumptions may or may not be proven to be correct, and there can be no assurance that such estimates will be achieved. Further, the SVN Advisor and the Owner disclaim any and all liability for representations or warranties, expressed or implied, contained in or omitted from this Offering Brochure, or any other written or oral communication transmitted or made available to the recipient. The recipient shall be entitled to rely solely on those representations and warranties that may be made to it in any final, fully executed and delivered Real Estate Purchase Agreement between it and Owner. The information contained herein is subject to change without notice and the recipient of these materials shall not look to Owner or the SVN Advisor nor any of their officers, employees, representatives, independent contractors or affiliates, for the accuracy or completeness thereof. Recipients of this Offering Brochure are advised and encouraged to conduct their own comprehensive review and analysis of the Property. This Offering Brochure is a solicitation of interest only and is not an offer to sell the Property. The Owner expressly reserves the right, at its sole discretion, to reject any or all expressions of interest to purchase the Property and expressly reserves the right, at its sole discretion, to terminate negotiations with any entity, for any reason, at any time with or without notice. The Owner shall have no legal commitment or obligation to any entity reviewing the Offering Brochure or making an offer to purchase the Property unless and until the Owner executes and delivers a signed Real Estate Purchase Agreement on terms acceptable to Owner, in Owner s sole discretion. By submitting an offer, a prospective purchaser will be deemed to have acknowledged the foregoing and agreed to release the Owner and the SVN Advisor from any liability with respect thereto. To the extent Owner or any agent of Owner corresponds with any prospective purchaser, any prospective purchaser should not rely on any such correspondence or statements as binding Owner. Only a fully executed Real Estate Purchase Agreement shall bind the property and each prospective purchaser proceeds at its own risk.

3 TABLE OF CONTENTS 1. PROPERTY INFORMATION 4 2. LOCATION INFORMATION 8 3. FINANCIAL ANALYSIS DEMOGRAPHICS 24 All SVN Offices Independently Owned & Operated.

4 FOR SALE INDUSTRIAL SELF STORAGE PORTFOLIO 5 Property Self Storage Portfolio Kewanee, IL PROPERTY INFORMATION

5 SECTION 1 PROPERTY INFORMATION Executive Summary PROPERTY OVERVIEWVIEW This is a unique opportunity to purchase a 5 site self storage portfolio consisting of 300 units, 47,000 Net rent-able square feet with two apartments for additional income or on site management. There is limited competition in the 5 mile market service area and room to expand existing sites. This is your opportunity to "own" a market. This investment has strong consistent NOI and the ability to add value. Call David Coupe today for details at PROPERTY HIGHLIGHTS 5 Sites 47,000 Net Rentale Sq Ft PROPERTY SUMMARY 300 Units over 90% Occupancy Limited competition SALE PRICE: $1,500,000 Expandable - Less than 3 Sq Ft of Storage per capita 2 Apartments for additional revenue or management BUILDING SIZE: 47,000 SF CAP RATE: 7.5% 5

6 SECTION 1 PROPERTY INFORMATION Complete Highlights PROPERTY HIGHLIGHTS 5 Sites 47,000 Net Rentale Sq Ft 300 Units over 90% Occupancy Limited competition Expandable - Less than 3 Sq Ft of Storage per capita 2 Apartments for additional revenue or management INVESTMENT HIGHLIGHTS Offered at a 7.5% cap Opportunity to expand NOI with truck rental, moving services, moving supplies sales, and insurance sales Stable asset, modest year over year revenue growth Additional apartment rental income 6

7 SECTION 1 PROPERTY INFORMATION Property Overview Physical Description Property Name: Mid State Mini Storage & Pay and Store Self Storage Type of Ownership: Limited Liability Company Property Type: Industrial APN: Multiple Lot Size: Multiple AC Rentable SF: 47,000 Building Class: B Zoning: General Business Storage Units: Apartments + Outdoor space Exterior Finish Construction Year Built: Various Construction Type: Steel Buildings on Concrete Slabs Number of Stories: Single Foundation: Concrete Slabs Parking Surface: Gravel Number of Units: 300 Clear Height: Various 8' - 10'+ Power: Some units have power Roof: Steel Loading: Adequate Column Space: Varies Warehouse: Mini Storage Walls: Steel Buildings on Concrete floors with roll up steel doors 7

8 FOR SALE INDUSTRIAL SELF STORAGE PORTFOLIO 5 Property Self Storage Portfolio Kewanee, IL LOCATION INFORMATION

9 SECTION 2 LOCATION INFORMATION Location Maps 9

10 SECTION 2 LOCATION INFORMATION 1313 W 6th Kewanee Aerial 10

11 SECTION 2 LOCATION INFORMATION 1313 W 6th Photos 11

12 SECTION 2 LOCATION INFORMATION 604 Tremont St Kewanee Aerial 12

13 SECTION 2 LOCATION INFORMATION 604 Tremont St Photos 13

14 SECTION 2 LOCATION INFORMATION 817 Lake St Kewanee Aerial 14

15 SECTION 2 LOCATION INFORMATION 817 Lake St Photos 15

16 SECTION 2 LOCATION INFORMATION 1106 N Main St Kewanee Aerial 16

17 SECTION 2 LOCATION INFORMATION 1106 N Main Photos 17

18 SECTION 2 LOCATION INFORMATION 514 N Spring St Atkinson Aerial 18

19 SECTION 2 LOCATION INFORMATION 514 N Spring St Atkinson Photos 19

20 FOR SALE INDUSTRIAL SELF STORAGE PORTFOLIO 5 Property Self Storage Portfolio Kewanee, IL FINANCIAL ANALYSIS

21 SECTION 3 FINANCIAL ANALYSIS Financial Summary INVESTMENT OVERVIEWVIEW Price $1,500,000 Price per SF $31.91 CAP Rate 7.5%- Debt Coverage Ratio OPERATING DATA Gross Scheduled Income $208,680- Other Income 0- Total Scheduled Income $208,680- Vacancy Cost $20,868- Gross Income $187,812- Operating Expenses $75,124- Net Operating Income $112,687- FINANCING DATA Down Payment $300,000- Loan Amount $1,200,000- Debt Service $80,040- Debt Service Monthly $6,670- Principal Reduction (yr 1) $26,567-21

22 Mid State Mini Storage & Pay and Store Combined P&L's SECTION 3 FINANCIAL ANALYSIS Ordinary Income /Expense Income 2014 Actual 2015 Actual 2016 Jan-Apr Actual 2016 Projected Rental Income $129, $138, $49, $149, Total Income $129, $138, $49, $149, Expense Advertising & Promotion $1, $4, $2, $6, Bad Check $ $ $50.00 $ Bank Service Charge $60.55 $ $20.00 $60.00 Insurance expense $8, $8, $2, $8, Officce Supplies $ $ $ $ Postage & Delivery $ $ $ $ Professional Fees $1, $1, $ $2, Refunds $50.00 $43.69 $ $1, Repairs & Maintenance $3, $4, $2, $6, Property Taxes $24, $24, $8, $25, Telephone $1, $1, $ $2, Utilities $1, $1, $1, $3, Total Expenses $44, $48, $19, $58, Net Operating Income $84, $89, $30, $91,

23 SECTION 3 FINANCIAL ANALYSIS Unit Mix Summary UNIT TYPE COUNT % TOTAL SIZE (SF) $/SF/YR ANNUAL AL RENT 6x x x x x x x x x x Studio Apt Apartment Totals / Averages % 46,912 $ $0 23

24 FOR SALE INDUSTRIAL SELF STORAGE PORTFOLIO 5 Property Self Storage Portfolio Kewanee, IL DEMOGRAPHICS

25 SECTION 4 DEMOGRAPHICS Demographics Report 1 MILE 5 MILES 10 MILES Total households 1,767 6,664 9,897 Total persons per hh Average hh income $51,856 $45,709 $48,631 Average house value 1 MILE 5 MILES 10 MILES Total population 4,237 16,287 23,772 Median age Median age (male) Median age (female) * Demographic data derived from 2010 US Census 25

26 SECTION 4 DEMOGRAPHICS Demographics Map 1 Mile 5 Miles 10 Miles Total Population 4,237 16,287 23,772 Population Density 1, Median Age Median Age (Male) Median Age (Female) Total Households 1,767 6,664 9,897 # of Persons Per HH Average HH Income $51,856 $45,709 $48,631 Average House Value * Demographic data derived from 2010 US Census 26

27 SECTION 4 DEMOGRAPHICS Advisor Bio & Contact 1 David Coupe Senior Advisor SVN Chicago Commercial David Coupe serves as a Senior Advisor at SVN specializing in Self Storage and Investment properties. Coupe joined SVN as an experienced Entrepreneur who has spent the past two decades focused on investments of two kinds Equity Derivatives and Real Estate. Memberships & Affiliations David Coupe holds a Real Estate Managing Broker s license in Illinois and is a member of the Chicago Association of Realtors (CAR), the Illinois Association of Realtors (IAR), The National Association of Realtors (NAR) and the prestigious Graduate Realtor Institute (GRI). Phone: Fax: Cell: david.coupe@svn.com Address: 940 West Adams Street, Suite 200 Chicago, IL After a successful trading career on the Chicago Board Options Exchange, Coupe Started a series of companies that specialized in Real Estate Investment, Development, Condominium Conversion, Brokerage, and Property Management. His creativity, tenacity, and expertise with creative financing strategies is the fuel that propels him to deliver deals to the closing table. Coupe has developed a strong reputation as an expert strategist and analyst. His background in Multifamily Investment Properties, Condo Conversion, Brokerage, Property Management and Entrepreneurship is a perfect foundation to expand Sperry Van Ness Self Storage presence in the Midwest. Coupe cherishes spending time with his three sons as well as Travel, Boating, Sailing, Golf, Motorcycling, and Mountain Biking. He has a strong eleemosynary mission and enjoys donating his time to several charitable organizations including Special Olympics Illinois, Cure Autism Now, Autism Speaks, and GiGi s Playhouse. 27