Description
EXISTING INCOME, UNTAPPED POTENTIAL AND ROOM TO EXPAND! Here's an opportunity for investors looking for an established income-producing property with the added advantage of future growth potential! Situated on a spacious 2-acre parcel along a county road, this 24-unit mini-storage facility offers a combination of existing rental income, available storage capacity and land for possible future expansion. Constructed in 2005, the approximately 4,800 sq. ft. building features durable steel siding, a steel roof and wood-stud construction. The facility includes three 10'x10' units currently renting for $45/month, eighteen 10'x20' units at $70/month and three 10'x30' units at $90/month. An especially appealing feature is the flexibility of the interior layout. Movable partition walls allow unit depths to be adjusted to meet customer needs and changing market demand. Construction details include insulation designed to minimize condensation on interior walls, concrete floors and raised perimeter curbing designed to help prevent surface water from entering the units. Individual overhead doors provide convenient access, while the gravel approach offers room for maneuvering vehicles and trailers. Electric is available at the lot line should a future owner wish to explore additional improvements. Now let's talk potential! The facility is currently approximately 65% occupied despite having had no advertising or marketing efforts over the past two years. With existing tenants already generating income, the vacant units present an opportunity to increase revenue through renewed marketing and increased occupancy. At the current rental rates, full occupancy represents $19,980 in potential annual gross rental income before expenses and vacancies. And there's more! With 2 acres of land, the property offers room to explore additional storage buildings or other complementary uses, subject to zoning and applicable approvals. Rather than starting from scratch, a new owner has the opportunity to build upon an established business while considering future expansion. Whether you're a seasoned investor seeking to diversify your holdings or looking to enter the mini-storage business, this property offers a compelling combination of existing income, adaptable storage space and room for growth. The foundation is already here. The next chapter is yours to write!
Details
| MLS # | 22605189 |
|---|---|
| Listing Type | For Sale |
| Style | Business Opportunity W/re |
| Sub-Type | Resale |
| Status | Active - With Offer |
| Year | 2005 |
| Days On Site | 10 |
| Listing Provided By | RE/MAX PROPERTY PROS | KIM BRIXIUS |
Features
| Building(s) | 1 |
|---|---|
| Acreage | 2.00 |
Taxes
| Property | 1674 |
|---|
Area Information
| State | WI |
|---|---|
| County | Taylor County |
| City | Medford |
| Zip Code | 54451 |
| Area | Medford |
| Subarea | Medford |
| Listing VS Median (in 54451) | |
Price: $200,000 low | high Med: $239,900 On site: 10 low | high Med: 24 | |
Market Activity 54451
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Learn More About This Property
| State | WI |
|---|---|
| County | Taylor County |
| City | Medford |
| Zip Code | 54451 |
| Area | Medford |
| Subarea | Medford |
| Listing VS Median (in 54451) | |
Price: $200,000 low | high Med: $239,900 On site: 10 low | high Med: 24 | |
