A-Mini Self Storage is being offered for sale as a two-property portfolio with A-Mini located in Del Valle (Austin MSA) and Town & Country Mini Warehouses (Listing #Z0060176) located in Forney, Texas (suburb of Dallas). A-Mini Self Storage offers the next investor an opportunity to own the closest Self Storage to the greater Austin (MSA) Airport and a historically high-occupancy facility with stable cash flow in Forney, Texas. The A-Mini Self Storage consists of 54,875 non-climate net rentable square feet. The unit mix is primarily larger sizes with only 78 being 5x5 or 5x10. Larger units have lower tenant turnover and long-term tenants than the smaller sizes. A-Mini offers the next investor a unique opportunity to own self storage in two of the largest MSA's in Texas, with upside at each location. As of 12/31/17, A Mini Self Storage reported a 61.3 percent unit occupancy and a 70.71 percent square footage occupancy. The upside in acquiring A-Mini is through an aggressive advertising and management campaign. The existing owner has been on-site just a few times in the last three years. As such, it is reasonable to anticipate occupancy and operations improvements with new ownership.
The two-property portfolio is being offered to investors at a 5 percent discount to acquire both facilities simultaneously; however, the individual facilities may be sold separately. A-Mini Self Storage offers the next investor the closest self storage facility to Austin-Bergstrom International Airport, offering convenient access to the storage facility via a quick right turn upon exiting the airport. Upside potential awaits the new investor of A-Mini Self Storage through diligently overseeing the day-to-day operations, as well as managing digital advertising.
As noted, the occupancy at A-Mini Self Storage as of December 31, 2017 was reported at 61.3 percent (unit occupancy) and 70.71 percent NRSF occupancy, due to having more large unit sizes which creates a larger discrepancy between these two measurables. By increasing the occupancy and revenue management, A-Mini Self Storage could provide better returns than what is currently being achieved. As such, A-Mini Self Storage is being offered at a discounted price per square foot, compared to the average Austin self storage facility, of 17.6 percent. By acquiring A-Mini and Town & Country Mini Warehouses, the next investor can control facilities in two of the largest MSA's in Texas, owning a total of 558 units and 74,532 net rentable square feet.