5308 Burkburnett Rd - Arbor Storage Units 15,401 SF Specialty Building Offered at $1,814,696 CAD at a 5% Cap Rate in Wichita Falls, TX 76306

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) and Seller has approximately 90% rented out at $90,000.00 K, gross income. The annual expenses are approx, $20,282.00 leaves an actual net income of $61,718.00 with an approx 5.00% Cap Rate. Plus the Owner guarantees the Pro Forma rental income @ $102,000.00 K for One Full Year for Qualified Buyer, leaving an Approx 6.00 Cap Rate.with the adjusted net income of $81,718.00, 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., $1,690.00 a mo. for $20,282.00, annually. Today the actual cap rate is 5.00%. The Site features new Gated Key Pad, Cameras, Fences, Durable Locks, No Tree problems for Expansion, all Updated Electrical System to code & Sec System, 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.