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Eagle Commercial Realty Services: Two Self Storage Facilities in Bullhead City, Arizona for Sale

Phoenix, AZ, March 07, 2014 --(PR.com)-- For Sale: Two Self Storage Facilities in Bullhead City, Arizona

Clearwater Storage is a 15,161 SF self storage facility which is 89% leased to a mix of household and commercial storage tenants with a history of generating approximately $38,044 in net operating income annually. Projected net operating income for the coming five years ranges from $39,400 to $69,550 due to better management practices which will lead to increased occupancy and a decrease in operating expenses. Unleveraged cash on cash returns based on a $475,000 purchase price are projected to range from 10.8% to 14.6% over a five year period.

Riverview Storage is a 12,685 SF self storage facility which is 62% leased to a mix of household and commercial storage tenants with a history of generating approximately $26,163 in net operating income annually. Projected net operating income for the coming five years ranges from $37,652 to $54,446 due to better management practices which will lead to increased occupancy and a decrease in operating expenses. Unleveraged cash on cash returns based on a $420,000 purchase price are projected to range from 9% to 13% over a five year period.

The properties are each located steps away from the Colorado River in Bullhead City, Arizona; a community known for proximity to Laughlin Casinos, Colorado River recreation, and the retail and shopping hub of Mohave County. Total population within 1, 3 and 7 miles is approximately 9,446, 28,045, and 51,086 respectively. Average household income within a 3-mile radius is approximately $46,438. The top three employers in Bullhead City are Laughlin Nevada Casinos, Bullhead City Elementary School District, and Western Arizona Regional Medical Center. The Laughlin/Bullhead International Airport is the only international airport in Mohave County. There are daily flights to and from Bullhead City and the airport has announced plans to extend the runway to 8,500 feet to accommodate even larger aircraft. This will make it the largest runway within a 90-mile radius.

The property locations benefit from direct street frontage, a clean appearance, a varied unit mix for personal and commercial customers and a location within the neighborhoods they serve.

Jeff Gorden, CCIM
VP, Eagle Commercial Realty Services
an Argus Self Storage Sales Network Affiliate
Direct Dial - 480-331-8880
2929 N 44th St. #345, Phoenix, AZ 85018
Contact Information
Eagle Commercial Realty Services
Kelley Stillman
602-952-1282
Contact
www.eaglecommercial.com

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