This is an amazing opportunity to purchase a mature 36,070 net rentable square-foot self storage facility. A business like this rarely comes to market.
It is located in Eastern Ontario and currently is being run by 3rd party managers with zero involvement from the current owners. +
345 Non -climate controlled units with drive up accessibility on 3.0+/- acres.
Very low bad debt
100% full with below market rents
High quality construction with very high driveup appeal
Conveniently located near the 401
Solar contract with 9 years remaining and 2 options for 5 years each.
Current net income (EBITDA) is $355,000 with proforma (at current market rates) of $402,000.
Note that the current 3rd party managers make $99,300, and if you were to be an owner/operator and take over the manager's job, you could add the $99,300 to your earnings for a total of $454,300.