Faircloth Family (Nelson, Richard, Jonathan & Charity)

Name of Facility: Bluff Road Self Storage
Location of Facility: Apalachicola, FL
Square Feet: 11,900 Number of Units: 114
Method for Finding the Deal: Broker, direct mail, Cold Call.. Direct Mail
Acquisition Price: $460,000 Cap Rate at Purchase: 12.58%
NET Monthly Cash Flow (After any Debt Service): $23,052
Funding Type: SBA
Closing Date: April 30, 2020
Why did you like The Deal? Cash Flow- We received funding for immediate expansion which will bring our cash flow up to $50,148 in year 2 after debt service
The strategy you learned from Self Storage Profits, Inc. that helped you the most: Underwriting- we were very conservative coming in and it will pay dividends for the life of the project
Exit Strategy/future plans: Expand with Boxwell Portables (3,552 sqft YR1 and another 1,920 sqft YR 3)

Facility Website: Bluffroadstorage.com