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1088 W. Highway 92
Bisbee, AZ 85603 ·

8,648 SF · Industrial For Sale

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Bisbee Mini Storage

Price N/A Cap Rate 6.12%
Building Size 8,648 SF Tenancy Multiple
Property Type Industrial Year Built 1986
Property Sub-type Self/Mini-Storage Facility Clear Ceiling Height 8 ft.
Property Use Type Investment Lot Size 1.14 AC
Listing ID: 18147732 Date Created: 04/29/2013 Last Updated: 07/31/2013

Description

The investment opportunity is an income producing self storage and is 61% leased to a mix of household and commercial storage tenants with a history of generating $11,500 to $13,500 in net operating income annually. Net operating income for the coming five years is projected to increase from $9,673 to $31,748 with better management practices which will lead to increased occupancy and rental revenue. Cash on cash returns based on a $150,000 purchase price are projected to range from 7.9% to 21.3% over a five year period.

The improvements are three buildings totaling approximately 8,648 rentable square feet. There are 91 units of drive up storage, zero units of climate controlled storage and an undetermined of number parking spaces for storage of vehicles. Construction is concrete block with frame and sheetrock interior partitions on a concrete foundation. The roof is of a pitched design with both metal and asphalt shingle on different buildings. Doors are a mix of steel man doors and metal roll up doors. Drive aisles are gravel. Access controls are composed of chain-link fencing with a padlock controlled gate.

Bisbee Mini Storage, is located in Bisbee, Arizona; a community known for its rich mining history, tourism, and hosting the County Seat for Cochise County since 1929. Total population with 1, 3 and 5 miles is 1,817, 4,492 and 7,622 respectively. Average household income within the 3-mile ring is $48,011. The top three employers in Cochise County are the US Army Intelligence Center at Ft. Huachuca, Cochise County, and the Sierra Vista School District. The property' s location benefits from exceptional visibility on Highway 92 and limited competition. Traffic counts in front of the property average 5,252 vehicles per day.

The Bisbee of today is a well-known artist's community whose architectural and historic heritage has been preserved. Located at the center of the natural and historic beauty of Cochise County, the city has transformed itself into the ideal spot for tourism. These benefits combined with "the most perfect year round climate" make it an attractive place to visit and a great place to call home.

Highlights

  • 91 Unit Self Storage for $150,000
  • Tremendous Upside Potential
  • Local Management in Place
  • Excellent frontage on Highway 92
  • Great opportunity to increase revenue

Research

1088 W. Highway 92, Bisbee, AZ 85603 (Cochise County)

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