Interest rates are probably going to drop. Time to place a contract on property with a 45 day closing date to get the property with the best interest rate.
Built 1988
61 and 63 E School St, Bonne Terre, MO 63628 is 21 self Storage Units.
Current $44,301,60 gross with NOI annually of an estimated $39,401.60. If only 90% collected. On storage building.
Current cap rate of 9.1%. The units are currently 33% lower cost than the majority of units in St Francois county and less than all units in St Francois county. The lot is paved with police patrol regularly due to bank across the street and church next door.
Second building is now included. This structure has a one bedroom apartment in rear that is air b n b. It brings in approx. $1000 per month. The office in front is an estimated 260 sq. ft. Two rooms. 63 E School St, Bonne Terre, MO 63628
The total lot with two buildings and parking lot is just over 100 ft x 125 ft