Marcus & Millichap is pleased to offer for sale Sumas Mini Storage (the “Facility”) located in Sumas, WA. The Facility is offered at $1,300,000, which represents a 10.85% cap rate and $55.44 per net rentable square foot.
Sumas Mini Storage combines traditional self storage with supply chain solutions for Canadian and U.S. small businesses. Located in the border town of Sumas, WA, the Facility services both U.S. and Canadian tenants and customers. It is 3 blocks from the Sumas – Abbotsford, B.C., border crossing making it a convenient option for residents of both countries.
The Facility sits on one tax parcel of approximately 1.38 acres. It consists of four single-story self storage buildings plus a stand-alone house which serves as the residence for the onsite managers.
Built in 1981, the buildings are pole-built, wood-framed buildings with wood partitions. The exterior is metal-clad. The roofs are metal with metal-clad exterior doors and wood interior doors. There is a mix of roll-up, swing and sliding doors. The site is paved with asphalt and is fully-fenced and gated.
There are a wide variety of unit sizes ranging from 2’ x 2’ to 12’ x 40’. Smaller units are designed for shipping and mail customers. The traditionally-sized self storage units are designed for household storage, as well as, businesses in need of larger space.
Onsite employees tend to both the self storage, as well as, the shipping business. Outgoing shipping is provided by all major U.S. freight companies.
The Facility has been under the same ownership for 20 years.