Regional Multiple Listing Service, Inc.

Seller financing available! Located in St John’s, this property is well situated as an open storage facility. The 1.3-acre parcel is securely tucked away between The Port of Portland and Union Pacific Railroad. Key Storage is an established, cash-flowing business currently self-managed at a cap rate of 8.8%. There is significant opportunity to increase rents as many of the spaces are currently renting below market rates. All leases are month-month, and as spaces have become available, they have easily leased up at market rates. A new owner could bring in third-party management to earn passive income at a 7.9% cap rate or continue to self-manage and increase returns upwards of 9%. This property includes a detached management office and 2br 1ba 949sf single family house that could be used as a manager’s residence or separate rental property. Seller financing terms- Down payment: 60%, Interest rate: 6%, Terms: 5 years, Amortization: 30 years, Monthly payment: $3,597
N Lombard - West on N Roberts to end then Left on private drive

Dwelling Type: CommercialSale
Subdivision:
Year Built: 1926, County: US
N Lombard - West on N Roberts to end then Left on private drive

Virtual Tour

Listing is courtesy of Works Real Estate