5308 Burkburnett Rd - Arbor Storage Units

Nicely updated with new signage and automated entry gate. Easy manageable with automated renting and online services. Just across the street from Shepherd Air Force Base which has 60K people at any time, and a town of 102,988 residential population. The frontage on Burkburnett Rd. is a 4 lane thoroughfare and neighboring parcel has 8 vacant acres of land, which of this writing is available for purchase.Utility costs, see below. SELLER WILL CARRY $300K @ 2% INT for 5 Yrs. at or near asking price and guaranty the rental income on any vacant unit at time of sale for a full year. The Property, if fully leased,has 5 building, 123 units plus 7 RV storage Total of 130 spaces) will have approx. $109,800K annually. Seller has approximately 92% rented out at $101,028.00 K, actual gross income. The expenses are approx, $25,764 Ann Exp. Inc Prop Txs. leaves an actual net income of $75,264.00. with an approx 5.19% Cap Rate. However, estimated Pro Forma Income at $9,818 K monthly ='s, $117,816.00 Annually. Plus the Owner guarantees the pro forma rental income @ $117,816.00 K for One Full Year for Qualified Buyer, leaving a 6.34 Cap Rate.and the adjusted net income of $92,052, and room for expansion with approx 80 more units, but size will vary. Bldg size is 15,410 SF & Land size is 1.38 acres or 59,982 SF with room for expansion and 5 separate buildings with 123 enclosed units & 7 RV parking spaces. Property sits just off of Hwy 240. The year built 1978/84 and recently in 2023 has undergone extensive remodeling by the owners. The actual monthly expenses are approx., $100.00 mo. for Utilities, $100.00 mo Internet, $1,000.00 Mgt., $620.00 Ins, $327.27 Prop Taxes for the total monthly expenses of $2,147.00, annually $25,764.00. The Pro Forma cap rate is 6.34% and that's what is guaranteed by the Sellers terms. Today the actual cap rate is 5.19%. The Site has Cameras, Fences, Durable Locks, Gated Key Pad & Sec Sys, that keep a watchful eye out for clients. The site has room for approx twenty, 20' X 8' sea containers and has seven RV surface vehicle parking spaces but can expand to 40 with good visibility just up from Missile Gate Visitors Center and Clinic Tennis Courts.