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13520 US Highway 231, Union Grove, AL

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13520 US Highway 231

Union Grove, AL 35175-8514

Property Type:Specialty Sub Type:Self-Storage Status:Existing Year Built:-
Stories:1 Typical Floor:8,940 SF Building Size:8,940 SF
For Sale Price:$350,000 Price/SF:$39.15
Cap Rate:-

Sale Notes:
Robina's Mini Storage is a 66-unit, 8940 NRSF facility located in Union Grove, Alabama. There are multiple income streams with this property including self storage rental, a single family rental home and two 1500 sq.ft. leased auto maintenance garages. There is additional warehouse space which is currently being utilized as a rental office, hair salon and rental space. There is ample opportunity to add value through additional rental of this space.The self storage facility represents a value-add opportunity as rents and occupancy are currently below market and space exists to add additional units. The owner is currently operating a salon in the retail space attached to the office and would consider leasing the space from the new owner.The single family rental home is a 1622 sq.ft. 3 bed/2 bath house. The house is qualified for section 8 and is currently rented below the max allowable rental rate. The current owner isn't actively pursuing the self storage business. Based on a very conservative 75% occupancy, the Net Operating Income is over $45,000. Before the owner's husband passed away, the facility was typically 95%+ occupied.

Robina's Mini Storage is located in on U.S. HWY 231 in Union Grove, a city within the Huntsville-Decatur Combined Statistical Area. The facility is located on a main thoroughfare running between Huntsville and Arab and has great visibility from the roadway.

SVN | AVAT Realty, LLC
Michael Coon
(256) 726-9096 x109

Desiree Palmer
(256) 726-9096 x105

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