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Great ultra-passive income generating opportunity for the investor, ideal for the end user or the combination of the two. Current business owner used primarily as end user with occasional rental storage. This is a very clean professional storage facility, solid block and and steel construction, new standing seem metal roof and gutters in 2018 and total exterior painted, interior partitions are low maintenance steel, all units are bright and well lit and exterior has automatic LED lighting. There are a total of 6 units which make up approximately 2,933 square foot with 8 and 10 foot height garage doors, All units are contiguous with the ability to ingress / egress via interior roll up doors or interior lock down to create individual storage units. The largest unit #6 can be accessed via Rosemont and Fulton Street and could be easily converted into two individual spaces. Exterior parking storage has potential for significant additional income generation. There is a potential to create an additional two units (additional one from unit 6) and the possibility of adding a unit on the east end of the building. Each unit has floor drain, some have water spigots, and one with toilet flange plumbed. Natural gas hook up...gas pipe installed entire length of the building in attic (not visible from units) with "t" hook gas connection above each individual unit for easy installation of heater(s) etc. Each unit has electric garage door opener on it's own sub panel, owner can lock out each unit individually from the main breaker panel. Going rates for storage facility may range up to $1.30 a square foot. $1.30 x 2933 square foot = $3812.9 per month x 12 Months = $45,754.80 minus ($3660.38 vacancy) = $42,094.42 annual income (this does not include exterior parking storage). Annual expenses - Insurance $1200 + Taxes 1420 + Maintenance $1700 Electric $750 = $5070.00 total annual expense. $42,094.42 annual income minus $5070.00 annual expense= $37,024.42 net operating Income, $37,024.42 net operating income / $350,000.00 value = .105 x 100 = 10.5% cap rate (without exterior storage income potential). Great, easily managed investment for the seasoned or novice investor and or end user!
Listed by Bradford R Hutchinson of RE/MAX Action Associates

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