ACE MINI STORAGE - images4.loopnet.com

1 MARKETING PACKAGEACE MINI STORAGE | FONTANA, CABrandon M. RobinsonPresident & Broker155 W. Hospitality LaneSuite 265 San Bernardino, CA 92408(909) 380-0073 Office(760) 534-8135 Mobile(909) 839-4531 FaxCal BRE# 01787727 Cal BRE# John 3:16 Area & Tax & & OF , 10:9 LOCAL , 14:6 Total Population:204,000 Average Household Income:$79,383 Population Per Sq. Mile:4,800 Median Household Income:$64,824 Median Age:30 Income Per Capita:$19,706 Male / Female Disposable Income:$62,556 High School Home Value:$374,0002-Year Household Number:4,200 Demographics | Fontana, CAFontanaisworkingclasscityof204,003resi dentslocatedinSanBernardinoCounty, naisaregionalhubofthetruckingindustryasI nterstate10,Route210, ,Retail, , ,KaiserPermanenteMedicalCenter,Steelwork ersAuditorium,59sportsfields,36parks, |FontanaUnifiedSchoolDistrict|CityofFont ana|Target|ManheimAuctionsBetterBeverage s|AmericanSecurityProducts|CoronadoStone Products|FirthRixson|ReddawayAAAAutoClub Speedway| , 1:1-5 PRICE DETERMINATION Thepriceofthispropertyisnotdeterminedbyc aprate,priceperfoot, $1,126, ,thereplacementcostisestimatedtobearound $ 'scurrentfinancialandphysicalcondition, OWNERSHIPThe owner has had a series of personal issues that has caused him to neglect this property over the years such as.

2 Death of a family member and bad health. The property is in poor financial and phyical condition which is the reason for the below market sales price. Most Class C & B storages in this region are trading close to $100 per square has not paid attention to the property and there is deferred maintenance and renovations required. Deferred maintenance that needs to be addressed includes Asphalt, Roof, Interior of Apartment, Fascia, Paint, Gate & Security System, Management Software, & Damaged Roll Up Doors. ,computer,andsoftware; ;however, INCOMEG ross collected income as reported on the owner's profit and loss and tax return is $57,000. The potential income for this property at full occupancy is just over $150,000. The property is performing less than half of where it should be which is reflected in the low asking price. PROPERTY TAX , 11:25-26 OVERVIEW & , 12:9 Investment HighlightsACEMINISTORAGE islocatedat8448 CypressAvenueinthecityofFontana, , + ' uturedevelopmentofstoragesonthetablefort hecity, thanOnSiteOffice,OnSiteMangersResidence, ElectronicGate,RollUpDoors,BelowMarketRe nts, "ValueAdd" below replacement and assessed value90%+ Occupancy MarketCloseProximity to Foothill Blvd & Downtown FontanaLocation in 20th largest city in CalforniaSignificant Value Add OpportunityPROPERTY , 3:5 Property Name:Ace Mini StorageAddress:8448 Cypress Avenue, Fontana, CA 92335 Enclosed Square Feet:19,024 Gross Income (Pro Forma):$135,540 Net Income (Pro Forma):$81,795 Number of Units:194 Occupancy:52% (Current) | 90% (Proforma) Square Feet:43,560 Year Built:1984 APN / Zoning:0191-081-03-0000 Number of Buildings:6 Number of StoriesSingle StoryConstruction Type:Concrete Block, Metal, Wood, StuccoLand for Expansion:NonePaving.

3 AsphaltCross Streets:Arrow RouteNearest Freeway:Interstate 10 Traffic Count:15,000 Management Apartment:YesSecurity:N/AAmenities:On-Si te Office | Residence| Cameras | Roll Up DoorsElectronic Gate | High Traffic Count | Low RentsWebsite:N/AProposed Financing:All CashPROPERTY , 29:11 AERIAL , 4:13 LOCATION , 1:1 RENTAL , :235x10$4010x10$9510x20$115# of Units194 Occupancy56%Year Built1984 NRSF19, Size43,560 Address8448 Cypress AveFontana, CA 923355x10$5010x10$10010x20$120# of Units500 Occupancy92%Year Built1988 NRSF53, Size114,127 Distance in MilesAddress15723 Foothill BlvdPhone: (909) 822-1677 Fontana, CA 923355x10$7110x10$10010x20$143# of Units330 Occupancy91%Year Built1984 NRSF38, Size67,954 Distance in MilesAddress8150 Tamarind AvenuePhone: 909-329-2772 Fontana, CA 92335 SUBJECT PROPERTYS toremore StorageLK Mini StorageRENTAL , 8:375x10$7210x10$11710x20$177# of Units532 Occupancy90%Year Built1985 NRSF54, Size117,612 Distance in Miles1 MileAddress16990 Ceres AvenuePhone: 909-302-1729 Fontana, CA 923355x10$8910x10$12510x20$185# of Units408 Occupancy90%Year Built2002 NRSF40, Size64,469 Distance in MilesAddress8004 Palmetto AvenuePhone: 909-854-4598 Fontana, CA 923365x10$6010x10$9010x20$150# of Units354 Occupancy85%Year Built1988 NRSF39, Size77,972 Distance in MilesAddress17400 Foothill BlvdPhone: 909-822-8622 Fontana, CA 92335 Acme Mini StorageStorage DirectStorage SolutionRENTAL SURVEY , 6.

4 23 Property NameYear BuiltSquare Feet# of UnitsOccupancy Rates5x1010x1010x20 SUBJECT PROPERTY198419,024 19456%$40 $95 $115 Storemore Storage198853,53050092%$50$100$120LK Mini Storage198438,26733091%$71$100$143 STORAGE Direct198554,78553290%$72$117$177 STORAGE Solution200240,87240890%$89$125$185 Acme Mini Storage198839,13835085%$60$90$150 Averages198945,31842490%$68$106$155 UNIT MIX & INCOME , 8:28 SizeNumber Of UnitsSq. Sq. / Sq. Ft. Monthly IncomeAnnual IncomeSelf Storage5x1066503,300$40$ $2,640$31,6806x10260120$55$ $110$1,3207x91063630$50$ $500$6,0008x1049803,920$60$ $2,940$35,28010x111110110$95$ $95$1,1406x20201202,400$70$ $1,400$16,8007x20141401,960$85$ $1,190$14,28010x161160160$120$ $120$1,44010x182180360$105$ $210$2,52010x20252005,000$115$ $2,875$34,50012x202240480$105$ $210$2,52014x201280280$120$ $120$1,44016x191304304$140$ $140$1,68019419,024$12,550$150,600 UnitsSq. Ft.$ Storage19419, Vacant & EmptyOccupancyOccupied With No Tenant ContactAverage rate / sq.

5 Size / unitTotal UnitsUnits PayingINCOME & , 10:10 Gross Potential Income:150, $ Vacancy:15, $ Income:135, $ Other Income:-$ Pro-Forma Income135, $ New Real Estate Taxes:11, $ Management:20, $ Payroll Taxes & Insurance:1, $ Advertisement:3, $ Property Insurance1, $ Bank & Credit Card Fees:1, $ Maintenance & Repair:5, $ Office Expense:2, $ Utilities5, $ Telephone:1, $ Postage & $ License & $ Other $ Total Expenses53, $ NET INCOME81, $ INCOMEEXPENSES*GrossIncomeisProrated(Act ualIncomeis$57,000)* , 5:16 PRICE$1,000,000 POTENTIAL REVENUE $135,540 POTENTIAL EXPENSES$53,745 POTENTIAL NET INCOME$81,795 POTENTIAL CAP REVENUE STORAGE SQ. ,024 PRICE PER SQ. FT.$ are all Pro Forma and Not Actuals. Actual Gross Income is $57, , 2:38 Closing DateOn MarketSales Price$1,000,000 Pro Forma Cap Per Sq.

6 Ft.$ Sq. Ft. 19,024 Total Units194 Occupancy at Sale56%Year Size43,560 Address8448 Cypress AvenueFontana, CA 92335 Closing Date2/1/2018 Sales Price$1,495,000 Cap Per Sq. Ft.$ Sq. Ft. 12,221 Total Units53 Occupancy at Sale100%Year Size35, From Subject50 MilesAddress42000 Big Bear BlvdBig Bear Lake, CA 92315 Closing Date1/31/2018 Sales Price$1,400,000 Cap Per Sq. Ft.$ Sq. Ft. 10,439 Total Units201 Occupancy at Sale100%Year Size111,514 Distance From Subject61 MilesAddress37228 10th Street E. Palmdale, Ca 93550 SUBJECT PROPERTYM artin STORAGE & OfficesU Stor AllSALES , 2:26 Closing DateOn MarketSales Price$1,050,000 Cap Per Sq. Ft.$ Sq. Ft. 15,155 Total Units143 Occupancy at Sale80%Year Size67,954 Distance From Subject98 MilesAddress16430 K. StreetMojave, CA 93501 Closing DatePending EscrowSales Price$4,500,000 Cap Per Sq. Ft.$ Sq. Ft. 21,229 Total Units217 Occupancy at Sale96%Year Size169,884 Distance From Subject24 MilesAddress32045 Yucaipa BlvdYucaipa, CA 92399 Closing DateOn MarketSales Price$4,050,000 Cap Per Sq.

7 Ft.$ Sq. Ft. 36,925 Total Units385 Occupancy at Sale97%Year Size89,734 Distance From Subject5 MilesAddress2850 W. Foothill BlvdRialto, Ca 92376 Big Stuff RV & Mini StorageRialto Mini StorageMojave StorageSALES COMPARABLE , 22:37-40 Property NameYear BuiltLot SizeSquare Feet# of UnitsOccupancy RatesSales PricePrice / Cap RateClosing DateSUBJECT PROPERTY198443,560 19,024 19456%1,000,000$ $ MarketMartin STORAGE & Offices197835,719 12,22153100%1,495,000$ $ Stor All1981111,514 10,439201100%1,400,000$ $ Storage198067,954 15,15514380%1,050,000$ $ MarketBig Stuff RV & Mini Storage1999169,884 21,22921796%4,500,000$ $ EscrowRialto Mini Storage197089,734 36,92538597%4,050,000$ $ MarketMarket Averages198294,961 19,19420095%2,499,000$ $ $100, $100persquarefootwhilethispropertyispric edat$52perfoot! $ ,themonthlyincomefromthispropertywillbea round$19,000permonthandover$200, $ $ !

8 Thereisasignificantamountofexistingandne wmultifamilyandresidentialdevelopmentsin Fontana; , Cash , 28:19 LICENSE CERTIFICATIONN ational Association of Realtors ID: 157528386 Multiple Listing Service ID: CV37631 Broker License02023477 Agent , 1:22