Real Estate Property
Property id# 1961
Small Business Investment Opportunity
We have many clients looking for some kind of small business opportunity or retirees looking for something to supplement their income. In the history of our company, I don't believe we've ever seen an opportunity with so much potential, particularly one that would be so passive in nature.
The original plan of the owners was to build their house on the property, build the storage units, and then live off the income they produced. However, after they built these 23 units, their plans changed and they never completed the project. In fact, they have never advertised, had a website, or even a sign on the property - and still have several units rented just by word of mouth.
To give you an idea of the potential, the competing mini-storage facility, just a few hundred meters away, has done the exact plan as above. The owner lives on the property and rents the storage units. When we checked in the fall of 2014, the competitor's units were completely rented and had NO units available for for the next few months.
When researching the competition, it appears that most mini-storage units in San Miguel are renting between $118 and $120 pesos per square meter ($11 and $12 pesos per square foot). Applying this to the the 417 m2 (4,495 sq ft) of storage units already built, it appears that the expected gross income would be around $50,000 MXN per month ($3,850 USD). This represents an annual gross income of 18.5% of the asking price.
Of course the existing storage units only occupy approximately 10% of the available land, so there is ample room within the walled property to both build more units to increase income and or build a home.
All of the storage units were built in 2008, Each unit has it's individual galvanized roll up door to protect from corrosion, They are waterproofed , have interior and exterior lighting, monitored 24/7 with security with an electrical fence, alarm, and cameras that send notification of any movement.
The site includes existing 110V and 22oV electric service with it's own 15kva transformer, telephone and internet service, and water connections, however, there are some minor conditions on the water usage that prohibit commercial or industrial uses that would have high water consumption. The entrance doors are 9 meters wide for easy access to 18 wheelers.
Agent: Philip Hardcastle - 415.153.9520
Included in Sale
- Alarm System