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Income Property With Self-storage Business In Greater Moncton For Sale

Greater Moncton Area, New Brunswick, Canada
Asking Price:
$1,795,000 (CAD) Furniture / Fixtures included
Sales Revenue:
Available on request
Cash Flow:
Available on request

Located in the Greater Moncton Area, with almost 1500 feet of frontage on the four-lane highway 11, this 11,75 acres property generates an income from the day you take possession. The area is one of the fastest growing in Canada and a relocation destination for people from all over the country.

The complex (7 buildings) now includes; apartments (2), self-storages (60 units), retail spaces, all rented with demand for more. There are still plenty of land left to develop, both commercial and residential. Zoning also approved for Car/Boat/RV dealership.

Asking price is $1,795,000 with the addition of buildings #10, 11 (permits in place, construction start in May, 2022). These 2 buildings will add 26 heated units + car dealership office / lot. Valuation done at 8% CAP rates with plenty of potential for rent increases and lots of room to add more units.

Note: The above are based on current rents rates, which are well bellow the local market, by increasing the rents close to the market, but still bellow, the CAP rates jump to 10%+.

This is perfect for a hands-on investor, the current owner is available to manage future expansion project and property management for a transition period.

This is for sale by owner. Sale will be registered as a real estate transaction, all goodwill and storage business activities included. Please have your financing in place before inquiring.

For more information please visit: https://www.storacube.com/bellgroup/

Property Information

Real Estate:

Real Property Included

Living Accommodation:

Owner could use one of the apartments.

Location:

High Visibility along 4 lane highway with almost 1500 feet of frontage

Premises Details:

Building #1 is 2 retail space (rented), 2 apartments (rented) on second floor (with project to turn this into 4 apartments). Building #2 is 32 units of heated self-storage, Building #3 is support building (garage), buildings #4 to 7 are unheated self-storage (all rented with waiting list).

Planning Consent:

Approved for retail, dealership, self-storage.

Business Operation

Expansion Potential:

Have building permit in hand for 2 more building to start in May (selling price will go up at that time), these buildings will be 26 units heated self-storage + office for car/rv dealership. Plenty of room to grow, groundwork is ready for 9 more buildings (5- 30'X70' to 4-30'X150')

Reasons for selling:

Pre-retirement, owner have another business that is also growing, would like to start slowing down.

Years established:
2008

Other Information

Support & training:

Owner is available for smooth transition, can also manage property for a determined period of time and coordinate future development project.

Furniture / Fixtures value:
$1 (CAD) - included in the asking price
Website:
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Home based:
This business can be run from home.

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