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STAR Retail Listing, mini-storage, U-Haul, FEX Biz Center & 4 rentals + apt
110 White Rock LN
Billings, MO 65610
X
110 White Rock LN
Billings, MO 65610
- Presented by
Coldwell Banker Commercial Southwest Partners
Property Details
Listing Type:
Retail Commercial
Sale or Lease:
Sale
Size:
79,340 SF
Price:
$1,950,000
Space Available:
3 SF
Max Contiguous:
1,200 SF
Property Description
STAR Retail Listing, a mini-storage, U-Haul Rental, Fed Ex Biz Center, mail boxes and retail center with MARK PATRICK & WALLY NATTINGER of Coldwell Banker Vanguard, Springfield, MO. This is our 19th STAR LISTING with CB Vanguard!
American Public Storage includes a min-storage business, U-Haul Rental Center, Fed Ex Business Center, and 4 rental retail spaces. The mini-storage includes 324 inside units, 50 outdoor spaces with unit and property security.
The Office is 1,080 SF and houses the U-Haul rental and Fed Ex Business Center. There is a 1,103 SF 2 bedroom/2 bath apartment with very nice finishes (could easily be rented to increase income) and 15 high highway frontage lit sign with double sided LED message boards
The mini-storage business is operating at about 60% occupancy and the rentable offices are 28% occupied. The apartment is currently used by the owners.
The business averages $90K-$95K positive cash flow the past two years with a positive trend. At list price and current financial performance it is selling at a 5.54% cap with significant upside opportunities. The sale includes all tangible and intangible assets, a non-compete and transitional management if needed.
Completing the improvements is 4,250 SF of rentable/usable retail office suites with one of 4 spaces occupied. Tenant is new effective 3/26/2011 on a 3-year lease.
Targeted opportunities to lease out the two open spaces include: limited-service eating at $4.0M, electronics & appliances at $2.9M, furniture & home furnishings at $2.5M, clothing & accessories at $1.8M, and building materials, garden and supplies at $1.6M.
Excellent location with 340 of frontage on US 60 with excellent visibility and 15,186 est. avg. daily traffic. Less than 7 mi. from SW Springfield, 3 mi. north of Billings and 2 mi. south of Republic just inside the Christian County line and in the Springfield CBSA.
HIGHLIGHTS
(1) Turn-key mini-storage, U-Haul Rental Center and Fed Ex Business Center in excellent condition
(2) 60% mini-storage occupancy, 28% retail/office lease occupancy and renting very nice owner apartment
(3) 5.5% cap, $90K+ avg. positive annual cash flow with significant potential upside
(4) City of Billings vs. Benchmarks* with highest %: increase in home values, NO mortgages, increase in $100K+, $250K+ & $500K+ household inc.
(5) At a 5-mi. radius, top 3 unmet local retail opportunities avg. $3.6M annual revenues, top 5 avg. $3.0M and top 10 avg. $2.1M
(6) Just 7 mi. to SW Springfield, MO, just across the Christian County line (lower taxes) and in the Springfield CBSA
*Benchmarks: 1-mi. radius, City of Billings, 65610 Zip Code, 5-min. drive-time and City of Republic, Christian County, Springfield CBSA, Springfield DMA, Missouri & the US.
OFFERING
Complete offering narrative: http://bit.ly/MO-Billings-American-Public-Storage-and-U-Haul-offering
The offering is available on request in 88 languages. We will make every effort to accommodate other languages based on availability of translation resources.
BUSINESSS FINANCIALS & LEGAL
(22) Occupancy: 60% range
(23) CAP: 5.54%
(24) Cash flow avg over past two years: $90K-$95K range
(25) Cash flow trend: Positive
(26) Transition management assistance. The owner will provide transitional management assistance as mutually agreed to in writing between the Buyer and Seller.
(27) Good faith efforts to retain clients and transfer franchises. The owner will make good faith efforts to assist the Buyer with retaining clients and with securing transfers of the franchises as desired by Buyer. Seller makes no warranties regarding these activities and is not obligated to contribute to any franchise transfer expenses.
(28) Non-compete. .
(29) Confidentiality. Complete financials are available upon execution of a confidentiality agreement. Link: http://bit.ly/MO-Billings-American-Public-Storage-and-U-Haul-offering
Highlights
- Turn-key mini-storage, U-Haul Rental Center and Fed Ex Business Center in excellent condition
- 60% mini-storage occupancy, 28% retail/office lease occupancy and renting very nice owner apartment
- 5.5% cap, $90K+ avg. positive annual cash flow with significant potential upside
- At a 5-mi. radius, top 3 unmet local retail opportunities avg. $3.6M annual revenues, top 5 avg. $3.0M and top 10 avg. $2.1M
- Just 7 mi. to SW Springfield, MO, just across the Christian County line (lower taxes) and in the Springfield CBSA
- City of Billings vs. Benchmarks* with highest %: increase in home values, NO mortgages, increase in $100K+, $250K+ & $500K+ household inc.
Overview
Lot Size:
6
No. Of Stories:
1
Average Floor Size:
7,500
Year Built:
2006
Tax ID Number:
0707360000000014000
Zoning Description:
None known
Finance
Gross Income:
$201,347
Net Operating Income:
$107,195
Cashflow:
$107,195
Cap Rate:
5
Features
Zoning:
None known
Construction Description:
.26 gauge metal walls and roofs on concrete slabs. Interior roofs have 2 VR backed insulation. Each building has security lighting outside and inside, down spouts and gutters
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