Property: Caledonia Self Storage
Assessor’s Parcel #: 104042329171000 – new parcel number after CSM split
Zoning: M-3, Conditional Use Approved for Self Storage
Construction Cost: $2,888,613
Total Project Cost: $4,863,613
Number of Units: 413 units in Phase 1
Number of Buildings: (3) three – (5) Five buildings Phase 1
Unit Sizes:16 SF to 560 SF
Gross Square Feet: 76,640
Rentable Square Feet: 58,257 SF
Year Built/Expanded: 1974 / 2001 / Proposed
• CSM to be recorded upon Closing
• 9,300 Vehicles per Day on Four Mile Road
Foundation: 4’ shallow frost foundation footings
Floor Loading: 125 P.S.F. (upon delivery)
♦ Facility will signify the best product in a 3 mile radius at time of sale.
♦ Class A climate controlled self storage with drive up units and inside storage, including large units up to 560 SF to meet local demand.
♦ Nationally recognized consultant provided A+ rating on location and market demand.
♦ Excellent visibility and high traffic counts along two busy roadways.
♦ Seller has obtained Village of Caledonia Planning Commission approvals for a self storage conversion. The facility can be open 24/7.
♦ Seller would grant Buyer a long term lease for the ‘northwest’ corner of existing warehouse with (8) 20’ x 40’ & (1) 40’ x 40’ ambient units; this space would not be included in the sale of the 2 story building property. Additional space can be leased by Buyer for additional units. This scenario is not currently built into financial projections, but architectural drawing and mechanical approvals are in place.
♦ The vacant property on the west side has the ability for further expansion of additional units not currently built into financial projections.
♦ The vacant property on the east side has the ability to provide for a Phase 2 of approximately 2 buildings totaling 8,080 SF. Seller would be willing to grant Buyer an option to purchase this area. Seller would gain necessary easements on north and south sides of office building which would be required to allow for access to warehouse by both warehouse and renters.