761 Aztec Cir
Mesquite, NV 89027
Smart Storage · Specialty Property For Sale · 32,894 SF

********CURRENT RENTS ARE 21% BELOW MESQUITE MARKET AVERAGE******** Smart Storage 761 Aztec Cir, Mesquite, NV 89027 $2,400,000. $76/SF. current cap rate 5% due to low rents, Pro-Forma cap rate 7% once rates are raised Built in 1992. & Located just off I-15, .5 miles North the Eureka and Virgin River Casinos. Current annual gross rent: $156,000. At current market rates Pro Forma would generate $197,640 (based on actual, current average rates throughout Mesquite). Current rents are 21% under markets rates (see attachment) Annual expenses including property taxes, Insurance, utilities, internet & phone, merchant fees and manager’s salary: $36,000. Annual net operating income: $120,000. Pro-forma net operating income: $161,640. Current cap rate: 5.0%. Pro-forma cap rate: 7%. 152 drive up non climate control units - consisting of 19-(5x10) units, 4-(5x15) units, 10-(10x10) units, 89-(10x20) units, 1-(15x20) unit, 1-(15x25) unit, 28-(10x25) units Large drive ways 2 apartments. (On site manager lives in smaller apartment which connects to sales office, apartment and office were just remodeled) 9 outdoor car/boat/trailer parking stalls. 1 large workshop/garage (20x40) with 2 car garage door, epoxy floor, electricity, A/C, water, water softener, washer & dryer, water heater, sink & drainage. 31,325 Gross building sq. ft. 30,325 net rentable sq. ft. 28,750 total storage unit rentable sf (not including outdoor parking). 1.31 acres. 57,064 Net square feet, fully fenced. 100% current occupancy. Facility trends between 95%-100% occupancy. (most months we have a waiting list) Most other storage facilities in town stay 90+% rented as well. Mesquite has a very strong need for storage. There is additional space to add approximately sixteen 5x10 units. Excellent location next to apartments and town homes. This facility is unique as it sits in a neighborhood type setting which gives it a quite/peaceful feel that our tenants really like. The only people that traffic this area are residents or our tenants so we have absolutely NO issues with crime! This is also the longest standing storage facility in Mesquite so everyone knows about it! That is one reason why we do very little to no advertising! We spend $0 on marketing because of a natural, consistent flow of customers. Resident manager occupies the lower apartment and office. Website and software allow for credit card payment service and automated billing/collection system. smartstoragenv.com Steel constructed units. Asphalt lot. Cement slab floors inside units. Fully fenced with 2 security gates, Security lighting. Great tenants. Excellent investment opportunity for prospective buyer. Owners are selling to access funds to purchase additional properties. Call or text with questions. *Serious inquiries only, please.* Brett 801-898-7775 Potential short term seller financing available with a sizable down payment. Storage units, mini storage, self storage No agent calls, please. We already have an agent, both real estate and business broker if we decide to go that route. Thank you