VICTORVILLE STORAGE DEVELOPMENT Mojave Drive, Victorville, CA 92394 John 3:16 Brandon M. Robinson President & Broker 155 W. Hospitality Lane Suite 265 San Bernardino, CA 92407 (909) 380-0073 Office (760) 534-8135 Mobile (909) 839-4531 Fax Cal BRE# 01787727 Cal BRE# 02023477 [email protected]
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VICTORVILLE STORAGE DEVELOPMENT - LoopNet...VICTORVILLE STORAGE DEVELOPMENT Mojave Drive, Victorville, CA 92394 John 3:16 Brandon M. Robinson President & Broker 155 W. Hospitality
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Victorville is a city of 126,000 residents in the high desert of San Bernardino County. The city is 20
minutes north of the Ontario Airport and is the 4th most populated city in the County and 49th mostpopulated city in California. Named after railroad pioneer Jacob Nash Victor, the city of Victorville wasincorporated on September 21st of 1962.
Victorville is one of the fastest growing areas in California having witnessed a population increase of 80%since the year 2000 and 154% since 1990. This rapid growth in population is due in part to affordable
housing and convenient access to inland empire cities such as San Bernardino, Ontario, RanchoCucamonga, Fontana, and Riverside. The City is also a major transportation Hub located along the 15freeway between Los Angeles and Las Vegas.
The Victorville area has been the location of several TV & Film productions such as Grand Theft Auto, TheHitcher, Lethal Weapon, From Dusk Till Dawn, Face Off, Kill Bill: Volume 2, and Fast and the Furious TokyoDrift. Notable people from the Victorville area include Roy Rogers, Dale Evans, Steve Ryan, & EarlBascom.
Major Employers In Victor ValleySouthern California Logistics Airport | Hesperia Unified School District | Victor Valley CollegeDesert Valley Hospital | Walmart Distribution Center | Verizon | CEMEX | General AtomicsVictor Valley Union High School District | Victor Elementary School District | Stater BrothersFederal Correctional Institution | Victor Valley Global Medical Center | County of San BernardinoApple Valley Unifited School District | Adelanto School District | Super Target | Fiber Care Baths
INVESTMENT OVERVIEW
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Jeremiah 29:11
INVESTMENT HIGHLIGHTS
MOJAVE DRIVE STORAGE DEVELOPMENT is a 8.52 acre parcel of land that is approved for ministorage development. The site was fully approved in 2007 for 46,000 square feet of enclosedstorage and 136,000 square feet of RV Storage. Due to the economic downturn of 2008,ownership stopped plans to develop the mini storage.
The property is located 1/2 mile east of highway 395 and 4 miles west of Interstate 15. Thisopportunity is surrounded by existing and new single family and commercial developments.Victorville's local storage market is stable with most facilities operating above 90% occupancy!The storage square feet per capita in Victorville is 13.05. Current rental rates are roughly $1 persquare foot for enclosed storage and $0.50 per square foot for RV Storage.
The project is estimated to cost $6M in both land and building costs. The facility is projected togross over $1M in revenue and nearly $700K in net income; producing doubledigit returns!
90% Market Occupancy
Adjacent to New Development
High Traffic Count
Major Corridor
Double Digit Return on Investment
PROPERTY PROFILE
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Philippians 4:13
Property Name: Victorville Storage Development
Address On Title: Mojave Road, Victorville, CA 92394
Land Acquisition Price: $595,000
Land Price Per Square Foot: $1.60
Land Price Per Acre: $69,836
*Construction Cost: $5,508,175
Market Rate Per Square Foot: $0.99
Self Storage Sq. Ft. Per Capita: 13.05
*Projected Gross Revenue: $964,602
*Projected Net Income: $688,729
Enclosed Rentable Square Feet: 183,095
*Number of Units: 591
*Projected Occupancy: 95%
Acreage: 8.52
Gross Land Square Feet: 371,131
*Year Built (Proposed): 2020
Zoning: M1 Industrial
APN: 3128-621-04-0000
Construction Type: Metal
Paving: Concrete
Cross Streets: Mojave & Highway 395
Nearest Freeway: Interstate 15
Traffic Count: 20,000
Plans & Approvals: Site Was Approved in 2007 (Expired CUP).
SITE PHOTOS
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Romans 3:23
AERIAL MAPS
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Matthew 7:21
LOCATION MAPS
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. John 10:10
PARCEL MAP
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Galatians 5:16
RENTAL SURVEY
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Genesis 1:27
Below are companies that manufacture and sell portable storage in California. The rough cost of the
“shipping container” units are between $10 - $15 per sq. ft. The “traditional self storage” units
range between $20 - $40 per sq. ft. Please contact the companies below for exact pricing.
Traditional Self Storage Style Shipping Container Style
PERMANENT STORAGE CONSTRUCTION
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. 2 Timothy 1:7
Two of the biggest names in self storage development are KiwiConstruction and Mako Steel. Both companies have been in business forover 20 years and are the preferred contractor for the largest storageoperators in the country.
Feel free to contact them for information regarding construction.
This is an excellent opportunity for an experienced operator to capitalize onthe demand for storage in this growing area. With the high price per squarefoot to purchase an existing facility in California, it is smarter to build a newproperty at half the cost!
Most storage facilities in California are selling for prices between $100 - $150per square foot depending on Class and location. This project provides a greatopportunity to own a Class A facility for less than $60 per foot!
The storage market in Victorville is stable with all other facilities operatingaround 90% occupancy! There is a healthy amount of new residential &commercial construction that will increase demand.
This property has strategic placement to attract tenants from both Victorville& Adelanto. This opportunity has potential to gross over $1M annually andprovide double digit returns!
BROKER REMARKS
National Association of Realtors ID: 157528386
Multiple Listing Service ID: CV37631
The information herein has been obtained from sources deemed reliable. We
have no reason to doubt its accuracy, but do not guarantee it. The prospective
buyer should carefully verify information contained herein. Matthew 6:33