$930000

Vassar Mini Storage & East Side Plaza
  • Units: 171
  • Cap Rate: 8.71 Percent
  • Price Paying: 35.29 sqft
  • Price Per Unit: $7,017
  • Property Type: Commercial
  • Gross Rent Multiplier: 6.11
  • Year Built: 2002 - 2012
  • Monthly Income Per Unit: $95.21
  • Expense to Income Ratio: 46.81 Percent
  • Average Square Feet: 198
  • Debt Service Coverage: 1.66
  • Cash Flow: $41,393
  • ROI Year One: 13.80%
  • Listing Agent: Bruce Lister
  • Property Features: Income Property Organization is pleased to present the exclusive marketing of Vassar Mini Storage & East Side Plaza which is located in Vassar, Michigan. This property consists of:

    165 Units – 34,000 sq. ft.
    Drive-Up, Climate Controlled Units
    6 Offices
    1 Manager’s Office

    Vassar Mini Storage & East Side Plaza is situated on 961 E Huron Avenue, in Vassar Michigan.

    This property is comprised of 165 units, ranging from 50 to 400 square feet. There are a total of 9 buildings.

    This property has a strong cash flow with its occupancy above 90% for many years, due to its location and the effective management of this facility. The owner is motivated to sell, and based on the asking price of $1,200,000, Vassar Mini Storage & East Side Plaza reflects a 8.71% cap rate with a cash-on-cash return of 13.8%.

    Once you have had a chance to review the included information please call to set up a confidential showing before this aggressively priced opportunity is gone.
  • Interior Features: -
  • Exterior Features: -

Location


View Larger Map
  • IPO Social Media

    Follow us on Facebook!
    LinkedIn
    Tweet to us!
  • About Us

    Income Property Organization offers customized brokerage services that are designed to meet the specific needs of a wide range of clients -- private owners as well as institutional investors -- who want to buy or sell income property.
  • Contact Us

    Income Property Organization
    6421 Inkster Rd., Suite 200
    Bloomfield Hills, MI 48301
    Telephone (248) 932-0300
    Fax (248) 932-0301