Investment Overview

Stop-N-Store is located in Whitmore Lake (Northfield Township, Washtenaw County), Michigan. Whitmore Lake is located approximately twelve miles north of Ann Arbor and thirteen miles from the affluent western suburbs of Detroit. Occupancy has consistently been over 95 percent. There are only two other self-storage facilities competing with Stop-N-Store in this rapidly growing, demographically desirable area. Stop-N-Store has nearly 45,000 net rentable square feet made up of 287 drive-up units, 50 drive-up relocatable units and 35 climate-controlled units. There are also 39 outdoor RV spaces. In addition, the facility has two rented offices and a rented stand-alone building that is approximately 1,200 square feet. The owner is currently using a warehouse space that is approximately 20’ x 35’ with a 14’ high power opener operated overhead door that could rented for approximately $500 per month and a 40’ x 40’ heated warehouse and office space with a half bath that could rent for approximately $850 per month. These spaces could potentially provide $6,000 in additional annual income. There is also a rented billboard facing US-23 along with a self-storage rental office. Security is provided by a key pad-controlled gate system and 22 cameras with digital recording and remote monitoring capability along with a monitored office burglar alarm system. The property is fully fenced. The facility is in excellent condition with no deferred maintenance. The shingle roofs were replaced in 2018. The roof on the leased building was replaced in 2015. Two new storage buildings were added in 2014. The buildings and doors were repainted in 2019. The asphalt paving has been crack filled annually with seal coating done every three years most recently last year and repairs done whenever needed. All exterior and interior lighting has been replaced with LED fixtures. The owner has plans approved by the township to expand the facility by 72,000 square feet made up of two two-story buildings. One building is 32,000 square feet with drive-up and interior climate-controlled units and the other is a 40,000 square feet fully climate-controlled building with interior units. When fully stabilized, the expansion has the potential for increasing the facility’s annual income by nearly one million dollars. Building permits are all that is needed to begin construction. The plans are not included in the sale price but are available separately. Stop N Store’s 411 feet of frontage on the US-23 freeway provides excellent storage building visibility and signage on a road with a 2022 average daily traffic count of over 71,400 vehicles according to MDOT. In addition, the facility has over 340 feet of frontage on Main Street, a key route between Whitmore Lake and the freeway. The Whitmore Lake area has been growing rapidly. The population has grown by 11.5 percent since 2000 and is projected to increase an additional two and-a-half percent in the next five years. The current median income is nearly $17,000 more than the U.S. average and has increased 24.3 percent since 2000. It is projected to increase an additional 28.7 percent in the next five years. The area is continuing to grow at a fast pace. A 208-unit apartment complex along with 57 single family homes is scheduled to be completed in the next two to three months with additional development in the area being planned by the same builder. In addition, nearly 800 homes, condos and apartments are in the planning or approval stage. The infrastructure will be improved with a $3 million sewer project scheduled. Meijer's is in discussions with the township to construct a store. In addition, many multi-acre properties in the area are on the market for additional development. The property is being listed at $9,000,000. This is an outstanding opportunity to obtain a stabilized well-maintained self-storage facility with expansion capabilities in a rapidly growing area and highly desirable area. To view an outstanding video of the facility please visit: www.stopnstore.com