PRESS RELEASE: York, PA – November 30, 2017 – Sale of S&B Mini Storage in Belle, WV
Investment Real Estate, LLC announces the sale of S&B Mini Storage for $720,000 to a private investor. S&B Mini Storage is located on River East Drive in Belle, WV in Kanawha County, approximately 10 miles southeast of Charleston.
S&B Mini Storage is comprised of six buildings and opened in 1996. The facility consists of more than 160 traditional drive up storage units and offers significant management upside.
The property features a 400+/- SF rental office on site that is open six days a week and offers daily property access. S&B Mini Storage is located along Midland Trail in Dupont City. The property is visible from Route 60 with an average daily traffic count of nearly 12,000 vehicles.
S&B Mini Storage was 80% occupied at the time of sale, and is comprised of 1.24 acres of commercial zoned land. Property features include electronic keypad access, perimeter fencing, exterior lighting and security cameras. The facility shows pride of ownership throughout and has been well maintained.
George Hatchard, Brokerage Advisor for Investment Real Estate, says, “What was truly satisfying about this transaction was that the buyer and the seller really enjoyed each other and had open communication throughout the process. Many real estate transactions have speed bumps during the process and how you travel over them determines the satisfaction of the parties involved. We were all able to take the speed bumps out of this deal.”
Here are some of the obstacles that Investment Real Estate had to overcome during the course of this transaction:
- Small self storage facilities in West Virginia typically have a limited pool of buyers due to the distance away from neighboring cities and states.
- A previous subdivision plan was never recorded at the county offices.
- IRE marketed the property to a West Virginia audience via electronic media and word of mouth which produced many buyer options.
- The buyer knew people in the county office and was able to expedite the approval of the subdivision.
The seller, Mike Szerokman, commented, “Partnering with IRE was the best decision I made in selling the storage facility. Their knowledge of the industry and the professionalism of the staff made this sale possible.”
For more information, contact Jess Dubbs, Director of Marketing.