Sav-Space Storage is a 60,933 gross square foot building which currently houses a 28,449 net rentable square foot self storage facility on 43.89 acres in Littleton, MA. The concrete block building was constructed in 1960 as a manufacturing and testing plant for telegraph equipment. Presently there are 237 climate controlled units that range in size from 5x5 to 10x21. Amenities at this property include climate controlled storage, 24 hour video surveillance, dock height loading, document storage, daily postal service, insurance and a very convenient location. In addition to the existing storage there is 8,500 square feet available for new units to be built in phases 3 and 4. On the third floor is 11,000 SF of office space that can remain or be converted to more self storage.

The current owners originally bought the property in 1999 and used it primarily to house their mortgage business operations. As a result of the economic downturn they closed the mortgage business, pursued other ventures, moved out of the building and only half-heartedly have managed the self storage facility as absentee owners since 2009. In addition to improved management, the bottom line for this facility will be increased by employing the following upside strategies:

1) rental rates to market standards for new customers

2) put owners' units back into service at market rates

3) build out and lease up phases 3 and 4 that total 8,500 SF

4) utilize the parking area and 15+/- acres of flat, dry land for RV and boat storage

5) rent 11,000 SF of office or convert it to self storage

6) upgrade web presence to allow online rentals, payments and institute a mobile App

7) employ a full time manager to staff the onsite rental office which is currently unmanned

Current ownership has notified existing customers of the first rent increase in 5 years which will take effect on June 1st and will result in additional monthly income of $12,643 for a total of $31,950.

This acquisition offers a new owner the benefits of cash flow from day one of operations as well as the ability to progressively add value to the facility.

Location Description:

Sav-Space is located on Newtown Road which carries approximately 10,000 vehicles per day past the property as they travel north and south to Routes 2, 495 and the residential neighborhoods of Littleton, Westford, Acton and Concord. This facility is located 3 miles from the 550,000 SF IBM campus on King St. and just 3 miles from the brand new 540,000 SF mixed use retail destination called The Point which combines retail, restaurants, grocery, hotel and entertainment.

Littleton is approximately 30 miles from Boston and perfectly positioned to benefit from the commercial and residential growth in western Milddlesex County.

Highlights:

>> 37,000 NRSF Climate Controlled Storage

>> 11,000 NRSF Office Space

>> 43.89 Acres, Expansion Possibilities

>> Competitive Rents at $17.00/SF

>> Tremendous Upside for new Owner

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Sales Info:

>> Commision split: 2.0%