Mohave County, AZ
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The Mohave Storage properties are located in Bullhead City, Kingman, Fort Mohave, Mohave Valley, and Topock, Arizona. The portfolio enjoys proximity to cities including Laughlin, NV, Lake Havasu City, AZ and Needles, CA. Mohave Storage is the dominant self-storage operator in Mohave County serving nearly 220,000 permanent residents. This offering includes approximately 608,000 existing rentable square feet plus 224,355 sf approved for development).
This 33-property portfolio has a current gross potential income of $5.2M and trailing 12 revenue of $3,600,000 ($300k/month). Physical occupancy is 90%. Economic occupancy is currently 70% and rising.
The variance is readily attributable to recent acquisitions and property expansions. The portfolio is on track to generate $6.6M of gross revenue by Year 3 with a new gross potential income of $7.84M including approved expansions and developments.
