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/