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AKC MINI STORAGE
1540 S. Dogwood Road, El Centro, CA
John 3:16
Brandon M. RobinsonPresident & Broker
155 W. Hospitality LaneSuite 265San Bernardino, CA 92408
(909) 380-0073 Office(760) 534-8135 Mobile(909) 839-4531 Fax
CA# 02023477
NV# B.1002376
Investment Overview……..
Property Profile……........…
Photos & Maps……............
Rental Survey……..............
Unit Mix...............................
Income & Expenses............
Pricing……………...………..
Comparable Sales...............
Portable Storage……………
Storage Development………
Lenders……………………….
Broker Remarks…...………...
TABLE OF CONTENTS
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Romans 10:9
AREA & DEMOGRAPHICS
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. John 14:6
Total Population: 44,602 Average Household Income: $60,375
Population Per Sq. Mile: 3,930 Median Household Income: $41,356
Median Age: 31 Income Per Capita: $19,043
Male / Female Ratio: 49.0% Average Disposable Income: $48,454
High School Graduate: 20.0% Median Home Value: $235,000
2-Year Degree: 31.0% Average Household Size: 3.24
Bachelor Degree: 12.0% Owners: 50.0%
Post-Graduate Degree 7.0% Renters: 50.0%
Votes Democrat: 65.2% Unemployment Rate: N/A
Votes Republican: 33.1% Unemployment Number: N/A
Demographics | El Centro, CA
Imperial County is a middle class agricultural based community located just east of San Diego and South of Riverside
Counties. Being formed in 1907, Imperial was the last county to be established in the State of California. The countyhas since grown to a population over 200,000 people. Imperial county was broken off of San Diego County and namedafter the Imperial Land Company, a Subsidiary of the California Land Company. The County is home to the Salton Seawhich is the largest body of water in the State of California. Anza-Borrego State Park is located on the western part ofthe county and is the largest State Park in California. Imperial County is a growing area with significant upside in termsof population growth and future development.
El Centro is the most populous city in Imperial County with over 40,000 residents. There is a steady flow of newhousing development due to migration from nearby San Diego County where home prices are much more expensive.In addition, local areas of employment such as El Centro Regional Medical Center, San Diego State University, ImperialValley College, and Pioneers Memorial Healthcare are driving population growth and demand for housing.
Major Employers & Local AttractionsEl Centro Regional Medical Center | Pioneers Memorial Hospital | Imperial Valley College | Imperial Date GardensImperial County Sheriff | Walmart | Fort Yuma | Blue Angels U.S. Navy Flight Squadron | Anza-Borrego State Park
Imperial Valley Expo & Fairgrounds | Salton Sea | Algodones San Dunes | Colorado River | Imperial Valley MallSan Diego State University El Centro Campus | The Plaza Imperial Shopping Center | Imperial Valley Swap Meet
IMPERIAL VALLEY MALL & THE PLAZA
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. John 1:1
The Imperial Valley Mall opened for business on March 9th, 2005. This
761,275 square foot facility consists of a total of 81 stores. The center is
owned and managed by CBL & Associates (NYSE: CBL). The Imperial Valley
Mall is the premier shopping destination in Imperial County and includes
Sears, J.C. Penney, Dillard’s, Cinemark, and Macy’s as anchor tenants.
Many of the mall’s customers cross the border from the city of Mexicali to
shop for American products. The city of Mexicali has nearly 700,000 residents;
many who travel across the border to shop and conduct business.
http://www.imperialvalleymall.com/
The Plaza at Imperial Valley is a 350,000 square foot power center adjacent
to the Imperial Valley Mall. Current tenants include Kohls, Marshalls, Bed Bath
& Beyond, Best Buy, 99 Cent Stores, Buffalo Wild Wings, Burlington Coat
Factory, Kirklands, Subway, Ross, Michaels, Staples, DD’s Discounts, DSW,
Petco, Olive Garden, Ulta Beauty, BevMo, & Vitamin Shoppe.
MEXICALI
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Ephesians 5:1
Mexicali is the Sister City to Calexico and a key player in the economy of the
Imperial Valley. Residents from Mexicali cross the border to work, shop, and
conduct business within Imperial County on a daily basis. In addition,
international corporations have invested in Mexicali and surrounding cities to
take advantage of it’s tax-free status given to industry.
Founded
March 14th, 1903
Population
689,775
Schools & Universities
Mexicali is home to 22 colleges and universities including Autonomous
University of Baja California and Instituto Tecnologic De Mexicali
Travel
5.9M Vehicles Cross the International Border at Mexicali & Calexico
15M individuals enter the Imperial County through the Mexicali Border.
Major Corporations Operating in Mexicali
Coca Cola | Honeywell | Kellogg’s | GKN Aerospace | Gulfstream | SunPower
Rockwell Collins | LG Electronics | Mitsubishi | Nestle | Goodrich
INVESTMENT OVERVIEW
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. John 14:6
INVESTMENT HIGHLIGHTS
AKC MINI STORAGE is located at 1540 S. Dogwood Road in the city of El Centro, CA. The city of ElCentro is the most populous city in Imperial County with over 43,000 residents. This single storyfacility was constructed in 1980 out of metal and steel materials. The facility consists of 22,200rentable square feet of enclosed self storage divided into 138 units; a warehouse consisting of1,155 square feet; as well as 12,300 rentable square feet of vehicle storage divided into 48 units.The property sits on 7.09 acres and comes with room to expand the enclosed storage by up to60,000 square feet.
AKC MINI STORAGE is located across the street from two of the largest shopping centers inImperial County; The Imperial Valley Mall and The Plaza Imperial. The facility has access andvisibility on one of the busiest roads in the area with over 20,000 vehicles per day. Rents at thisproperty have not been raised in over a decade and are 50% below market!
AKC MINI STORAGE comes equipped with an On Site Office, Electronic Gate, Roll Up Doors, AllDrive Up Units, Exterior Lighting, Long Term Tenants, Below Market Rents, & Expansion Potential.AKC MINI STORAGE is a stable property with upside providing the new owner with a "Value Add"investment.
Across Street From Imperial Valley Mall
Daily Traffic Count Above 20,000 Vehicles
Rents 50% Below Market
Adjacent to Signalized Intersection
Expansion Potential
Near 100% Occupancy
PROPERTY PROFILE
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Proverbs 3:5
Property Name: AKC Storage & Development
Address: 1540 Dogwood Road, El Centro, CA 92243
Price: $1,250,000
Price Per Square Foot: $53.52
Current Cap Rate: 5.45%
Cap Rate With Market Rents: 9.83%
Rentable Square Feet: 23,355 (Enclosed) | 12,300 (Outdoor)
*Expansion Sq. Ft.: 80,700 (Enclosed) | 12,300 (Outdoor)
Gross Income: $109,775
Net Income: $68,092
*Expansion Potential Income: $572,520
Number of Units: 138 (Enclosed)| 48 (Outdoor)
*Expansion Units: 548 (Enclosed) | 48 (Outdoor)
Occupancy (Enclosed Storage): 97%
Occupancy (Storage & RV): 83%
Acreage: 7.09
Gross Land Square Feet: 308,840
Year Built: 1980
Zoning / Use: Commercial & Light Industrial
APN: 054-360-056 | 054-360-057
Number of Buildings / Stories: 3 Single Story Structures
Construction Type: Metal
Management Software: Web Self Storage
Room for Expansion: Yes (Additional 50K - 60K sq. ft.)
Cross Streets: Danenberg Drive
Nearest Freeway: Interstate 8
Traffic Count: 20,000+
Amenities: On-Site Office | Drive Up Access | High Traffic
Electronic Gate | Below Market Rents | Expansion
Website: http://www.elcentrostorage.com/
PROPERTY PHOTOS
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Jeremiah 29:11
LOCATION MAP
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Philippians 4:13
AERIAL MAPS
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Acts 4:12
RENTAL SURVEY
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein.Romans 3:23
10x10 $45 10x10 $99
10x15 $55 10x15 $115
10x20 $65 10x20 $149
RV $40 RV $100
# of Units 138 # of Units 385
Occupancy 83% Occupancy 51%
Year Built 1980 Phone: Year Built 1986 Phone:
NRSF 23,355 (760) 681-6555 NRSF 49,200 (760) 352-3322
Acreage 7.09 Acreage 10.1
Lot Size 308,840 Lot Size 439,956
Distance Subject Distance 1.4 Miles
Address Address 502 E. Ross Ave
El Centro, CA 92243 El Centro, CA 92243
10x10 $75 10x10 $77
10x15 $100 10x15 $86
10x20 $115 10x20 $140
RV $35 RV N/A
# of Units 490 # of Units 440
Occupancy 89% Occupancy 85%
Year Built 1985 Phone: Year Built 1996 Phone:
NRSF 51,771 (760) 353-9855 NRSF 44,301 (760) 352-8602
Acreage 3.20 Acreage 3.39
Lot Size 139,392 Lot Size 147,668
Distance 2.7 Miles Distance 5 Miles
Address 1111 South 3rd Street Address 1857 W. Euclid Ave
El Centro, CA 92243 El Centro, CA 92243
AM-PM Storage
Royale Palms
SUBJECT PROPERTY
U Stor It
1540 Dogwood Road
RENTAL SURVEY
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein.Romans 3:23
10x10 $85 10x10 $99
10x15 $99 10x15 $139
10x20 $108 10x20 $159
RV $75 RV $54
# of Units 275 # of Units 500
Occupancy 75% Occupancy 88%
Year Built 1984 Phone: Year Built 2008 Phone:
NRSF 25,015 (760) 352-6859 NRSF 55,475 (760) 353-4141
Acreage 1.42 Acreage 4.12
Lot Size 61,855 Lot Size 179,467
Distance 5 Miles Distance 2.2 Miles
Address 1299 North Imperial Ave Address 1845 S. 4th Street
El Centro, CA 92243 El Centro, CA 92243
10x10 $85
10x15 $95
10x20 $120
RV $55
# of Units 284
Occupancy 80%
Year Built 1986 Phone:
NRSF 25,000 (760) 884-4271
Acreage 2.60
Lot Size 113,256
Distance 8.3 Miles
Address 902 E. Evan Hewes Higway
El Centro, CA 92243
Stax Up
Interstate Mini StorageSuper Storage
RENTAL SURVEY SUMMARY
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Romans 6:23
Property Name
Year
Built
Square
Feet
# of
Units
Occupancy
Rates 10x10 10x15 10x20 RV
SUBJECT PROPERTY 1980 23,355 138 83% $45 $55 $65 $40
AM-PM Storage 1986 49,200 385 51% $99 $115 $149 $100
U Stor It 1985 51,771 490 89% $75 $100 $115 $35
Royale Palms 1996 44,301 440 85% $77 $86 $140 N/A
Super Storage 1984 25,015 275 75% $85 $99 $108 $75
Interstate Mini Storage 2008 55,475 500 88% $99 $139 $159 $54
Stax Up 1986 25,000 284 80% $85 $95 $120 $55
Averages 1991 41,794 396 78% $87 $106 $132 $64
CURRENT UNIT MIX
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Matthew 7:21
Size Sq. Ft.
# Of
Units
Rentable
Sq. Ft. Rate
Rate /
Sq. Ft. Monthly Income
Annual
Income
Self Storage
10x10 100 36 3,600 $45 $0.45 $1,620 $19,440
10x15 150 36 5,400 $55 $0.37 $1,980 $23,760
10x20 200 66 13,200 $65 $0.33 $4,290 $51,480
Boat / RV
12x20 240 1 240 $35 $0.15 $35 $420
12x20 240 33 7,920 $40 $0.17 $1,320 $15,840
12x20 240 1 240 $50 $0.21 $50 $600
15x20 300 13 3,900 $40 $0.13 $520 $6,240
Warehouse
35x33 1155 1 1,155 $1,200 $1.04 $1,200 $14,400
Total 187 35,655 $1,530 $11,015 $132,180
Units Sq. Ft. $0.31
Self Storage 138 22,200 190.67
Warehouse 1 1,155
RV Storage 48 12,300
Total 187 35,655 Total Units 187
Units Rented 155
Occupancy 83%
Average rate / sq. ft.
Average size / sq. ft.
PROFORMA UNIT MIX (EXPANSION)
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. 2 Timothy 1:7
Size Sq. Ft.
# Of
Units
Rentable
Sq. Ft. Rate
Rate /
Sq. Ft.
Monthly
Income
Annual
Income
Self Storage
10x10 100 36 3,600 $70 $0.70 $2,520 $30,240
10x15 150 36 5,400 $90 $0.60 $3,240 $38,880
10x20 200 66 13,200 $100 $0.50 $6,600 $79,200
RV Units
12x20 240 35 8,400 $40 $0.17 $1,400 $16,800
15x20 300 13 3,900 $50 $0.17 $650 $7,800
Additional Units
5x5 25 30 750 $30 $1.20 $900 $10,800
5x10 50 50 2,500 $45 $0.90 $2,250 $27,000
10x10 100 100 10,000 $70 $0.70 $7,000 $84,000
10x15 150 75 11,250 $90 $0.60 $6,750 $81,000
10x20 200 125 25,000 $100 $0.50 $12,500 $150,000
10x30 300 30 9,000 $130 $0.43 $3,900 $46,800
Total 596 93,000 $47,710 $572,520
Units Sq. Ft. $0.51
Current Storage 138 22,200 156.04
Current RV 48 12,300
Addition 410 58,500
Total 596 93,000 Total Units 596
Average rate / sq. ft.
Average size (sq. ft.)
CURRENT INCOME & EXPENSES
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. John 10:10
Gross Potential Income: 132,180$
Vacancy: 22,405$ 17.0%
Gross Storage Income (2018): 109,775$
Admin & Late Fees: -$
Merchandise Sales: -$
Other Income: -$
2018 Collected Income 109,775$
New Real Estate Taxes: 12,500.00$ 1.0000%
Special Assessments: 1,461.25$ 0.1169%
Property Insurance: 3,000.00$
Payroll Expense: 15,722.00$
Employee Benefits: 2,000.00$
Maintenance & Repairs: 1,500.00$
Office Supplies: 500.00$
Utilities 5,000.00$
Other Operating Expenses: -$
Total Expenses 41,683.25$ 37.97%
NET INCOME 68,092.24$
INCOME
EXPENSES
PRICING & CLOSING COSTS
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Galatians 5:16
Proforma includes income with rents raised to that of the market
Current Proforma
PRICE RANGE $1,250,000 $1,250,000
GROSS COLLECTED INCOME $109,775 $164,556
EXPENSES $41,683 $41,683
NET INCOME $68,092 $122,873
CAP RATE 5.45% 9.83%
GROSS REVENUE MULTIPLIER 11.39 7.60
ENCLOSED SQ. FT. 23,355 23,355
OUTDOOR STORAGE SQ. FT. 12,300 12,300
PRICE / SQ. FT. (Enclosed Only) $53.52 $53.52
PRICE / SQ. FT. (Enclosed & Outdoor) $35.06 $35.06
SALES COMPARABLES
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Acts 2:38
Closing Date On Market Closing Date 11/2/2015
Sales Price $1,250,000 Sales Price $4,100,000
Cap Rate 5.45% Cap Rate 7.00%
Price / Sq. Ft. $53.52 Price / Sq. Ft. $71.96
Sq. Ft. 23,355 Sq. Ft. 56,975
Total Units 187 Total Units 584
Occupancy 83% Occupancy 95%
Year Built 1980 Year Built 1998
Acreage 7.09 Acreage 6.91
Lot Size 308,840 Lot Size 301,000
Distance Subject Distance 6 Miles
Address 1540 Dogwood Road Address 95 West US Highway 98
El Centro, CA 92243 Calexico, CA 92249
Closing Date 9/6/2016 Closing Date 8/22/2016
Sales Price $4,100,000 Sales Price $950,000
Cap Rate 7.00% Cap Rate 8.50%
Price / Sq. Ft. $85.94 Price / Sq. Ft. $40.12
Sq. Ft. 47,710 Sq. Ft. 23,680
Total Units 451 Total Units 154
Occupancy 88% Occupancy 90%
Year Built 1998 Year Built 1988
Acreage 3.46 Acreage 2.87
Lot Size 150,718 Lot Size 125,017
Distance 6.3 Miles Distance 6.5 Miles
Address 2420 Enterprise Blvd Address 329 W. Aten Road
Calexico, CA 92231 Imperial, CA 92251
Closing Date 5/1/2017
Sales Price $1,675,000
Cap Rate 2.00%
Price / Sq. Ft. $34.18
Sq. Ft. 49,000
Total Units 384
Occupancy 50%
Year Built 1980
Acreage 10.01
Lot Size 436,036
Distance 1.4 Miles
Address 502 East Ross Avenue
El Centro, CA 92243
Calexico Mini Storage
StoreMore Imperial
SUBJECT PROPERTY
Portico Self Storage
AM-PM Mini Storage
SALES COMPARABLE SUMMARY
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Matthew 22:37-40
Property Name
Year
Built Lot Size Square Feet
# of
Units
Occupancy
Rates Sales Price
Price /
Sq.Ft. Cap Rate
Closing
Date
SUBJECT PROPERTY 1980 308,840 23,355 187 83% 1,250,000$ 53.52$ 5.45% On Market
Calexico Mini Storage 1998 301,000 56,975 584 95% 4,100,000$ 71.96$ 7.00% 11/2/2015
Portico Self Storage 1998 150,718 47,710 451 88% 4,100,000$ 85.94$ 7.00% 9/6/2016
StoreMore Imperial 1988 125,017 23,680 154 90% 950,000$ 40.12$ 8.50% 8/22/2016
AM-PM Mini Storage 1980 436,036 49,000 384 50% 1,675,000$ 34.18$ 2.00% 5/1/2017
Market Averages 1991 253,193 44,341 393 81% 2,706,250$ 58.05$ 6.13%
PORTABLE STORAGE CONTAINER COMPANIES
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Genesis 1:1
Company Contact Phone Email
Janus Blake Robinson (479) 601-2452 [email protected]
Mako Steel Caesar Wright (760) 448-1760 [email protected]
USC John Cooley (303) 818-8835 john.cooley@universalstorage
containers.com
Aztec
Container
Steve Hyndman (800) 865-9189 [email protected]
Pac-Van Rob McDaniel (909) 829-5977 [email protected]
Mobile
Mini
Peter Synn (909) 685-5949 [email protected]
Cube Depot Tara (562) 202-5180 [email protected]
Instant
Storage
Charles
McCann
(661) 393-7005 [email protected]
Below are companies that manufacture and sell portable storage in California. The rough cost of the
“shipping container” units are between $10 - $15 per sq. ft. The “traditional self storage” units
range between $30 - $40 per sq. ft. Please contact the companies below for exact pricing.
Traditional Self Storage Style Shipping Container Style
PERMANENT STORAGE CONSTRUCTION
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Philippians 2:10
Two of the biggest names in self storage development are KiwiConstruction and Mako Steel. Both companies have been in business forover 20 years and are the preferred contractor for the largest storageoperators in the country.
Feel free to contact them for information regarding construction.
28177 Keller Rd,
Murrieta, CA 92563
(951) 301-8975 Phone
(951) 301-4096 Fax
www.kiwiconstruction.com
5650 El Camino Real, #100
Carlsbad, CA 92008
(760) 448-1760 Phone
(760) 448-1761 Fax
www.makosteel.com
STORAGE LENDERS
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Matthew 6:33
Bank of Hope (SBA)
Gene Pac
Senior Vice President
3200 Wilshire Blvd., 7th Floor
Los Angeles, CA 90010
(213) 819-4242 Phone
(213) 639-8049 Fax
Pacific Premier Bank (SBA)
Francisco Navas
Senior Vice President
1249 E. Katella Ave,
Orange, CA 92867
(805) 231-1246 Mobile
(714) 538-8330 Fax
Nortmarq Capital
Michael Elmore
Executive Vice President
500 Newport Center Drive
Suite 650
Newport Beach, CA 92660
(949) 717-5213 Phone
(949) 729-4620 Fax
Talonvest Capital, Inc
Thomas Sherlock
Principal
18881 Von Karman Ave
Suite 1650
Irvine, CA 92612
(949) 251-9900 Phone
AKC Storage is a property with good in-place income and significant upside
potential. The property has great visibility and access which is reflected in the
100% occupancy. With its location across the street from the Imperial Valley Mall
and The Plaza at Imperial, AKC has exposure and traffic unlike any other storage
facility in El Centro. These two centers are major shopping hubs and attract many
customers from Mexico and areas outside of El Centro.
The property also has rents that are 50% below market! An investor can raise
rents by 40% and remain below market averages. With rental raises and the
addition of U-Haul Truck Rental, the income for this property can increase to
$200K within the first year of ownership! Furthermore, the new owner has room
to expand the self storage as only half of the 7.09 acres is utilized. Expanding the
storage can double or triple the potential income!
AKC Storage is an excellent opportunity that will make an investor money now
and more in the future!
BROKER REMARKS
National Association of Realtors ID: 157528386
Multiple Listing Service ID: CV37631
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Matthew 28:19
