Fred B. Gibson, Realtor

Property Profile

Rainbow Self Storage

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Rentable Square Feet:

14,400 (approx.)

Total Square Feet:

15,900 (approx.)

Total Land Area:

97,836 (approx.) sq. ft. OR 2.246 acres (approx.)

Land for Expansion:

Yes

Zoning:

Commercial

Total Units:

107; 134 if maximum configuration

Occupancy:

82% - economic; 90% - unit; 96% - sq.ft.

Year of Facility Opening:

1993

Number of Buildings:

3

Exterior Construction:

Steel (Alliance)

Interior Construction:

Steel

Foundation:

Concrete slab

Roof:

Steel

Doors:

Steel roll up (Roll-Rite Industries)

Paving:

Gravel

Accounting System:

None

Fencing:

5 strand barbed wire

Gate:

Chain

Traffic Exposure:

Located on Airport Road just off Hwy. 70 which is route to Holloman Air Force Base

Manager's Quarters:

Approx. 1,500 sq.ft. featuring 2 bedrooms, 2 baths, office, living room w/fireplace, dining room, 2-car garage, 2-car carport, fenced yard

Office:

Operated from Manager's Quarters

Hours of Operation:

Summer and Winter, manager unlocks chain gate early morning until dark

Price:

$328,900

Net Operating Income:

$35,393

Proposed Cap Rate:

10.76%

Comments:

Great facility; only 9 years old in like-new condition; considerable upside potential. Located across street from 2 newer housing and manufactured home subdivisions. Room to add additional units or offer storage for RV's/boats/vehicles. Additional vacant land in front could be developed for an RV park. Owner indicates a strong demand for spaces that would accommodate visitors to friends and families stationed at nearby Holloman AFT. Holloman is the national home base for the Stealth Bomber aircraft and supports approx. 4,000 military personnel. Holloman recently became home to a training division of the German Air Force that represents approx. 700 military personnel and 1,000 dependents.

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