EXCLUSIVE INVESTMENT OFFERING MOORE SELF STORAGE 603 RODI ROAD PENN HILLS, PA EXCLUSIVE OFFERING PACKAGE PRESENTED BY: MICHAEL LIGUORI mliguori@hannalwe.com ANDREW SHERRY asherry@hannalwe.com EXISTING STORAGE PERMITTED ADDITION 35,158 SF 279 units 39,140 SF 283 units OFFERING $4,200,000
Contact Exclusively listed through Hanna Langholz Wilson Ellis. Property and market tours will be arranged through Hanna Langholz Wilson Ellis. MICHAEL LIGUORI mliguori@hannalwe.com ANDREW SHERRY asherry@hannalwe.com Hanna Langholz Wilson Ellis One PPG Place, Suite 1640 Pittsburgh, PA 15222 412.261.2200 (ph) 412.261.2075 (fax) www.hannalwe.com
Table of Contents SECTION 1 SECTION 2 SECTION 3 CONFIDENTIALITY EXECUTIVE SUMMARY Overview of Portfolio Offering Aerials & Site Plans PORTFOLIO SUMMARY Valuation Analysis Historical Financials Management summary
Section 1 Confidentiality
CONFIDENTIALITY AND DISCLAIMER THIS IS A CONFIDENTIAL MEMORANDUM intended solely for your limited use in considering whether to pursue negotiations to purchase Moore Self Storage, 603 Rodi Road, Pittsburgh, PA 15235 (the Property ). This confidential memorandum contains brief, selected information pertaining to the Property and has been prepared by Hanna Langholz Wilson Ellis ( Broker ), based upon information supplied by the Owner and other parties. All projections have been developed by Broker and are based on assumptions relating to the general economy, competition and other factors beyond the control of Owner and are therefore subject to variation. This confidential memorandum does not purport to be all-inclusive or to contain all of the information, which a prospective purchaser may desire and shall not be relied on as a promise or representation as to the future performance of the Property. Although the information contained herein is believed to be correct, Owner and Broker and their partners, officers, employees and agents have not independently verified the information contained herein and disclaim any and all responsibility for any inaccuracies. Further, Broker and Owner expect prospective purchasers to exercise independent due diligence in verifying all such information. No representation or warranty, expressed or implied, is made as to the accuracy or completeness of this confidential memorandum or any of its contents, or any other written or oral communication transmitted to a prospective purchaser in the course of its evaluation of the proposed sale of the Property. No legal liability is assumed or to be implied by any of the aforementioned with respect hereto. No representation is made as to the physical or environmental condition of the Property. SECTION 1 Confidentiality this memorandum or its contents to any other firm or entity without prior written authorization and that you will not use its contents in any manner detrimental to the interest of the Owner. Photocopying or other duplication is strictly prohibited. You will use this confidential memorandum only for the purpose of evaluating the possible acquisition of the Property. All prospective purchasers agree that they will conduct their own independent investigation of those matters, which they deem appropriate in order to evaluate this offering. Owner expressly reserves the right at its sole discretion to reject any or all proposals or expressions of interest in the Property and to terminate discussions with any party at any time with or without notice. If you do not wish to pursue negotiations leading to a purchase of the Property, kindly return this confidential memorandum to Broker at your earliest convenience. This confidential memorandum shall not be deemed a representation of the state of affairs of the Property or constitute an indication that there has been no change in the business or affairs of the Property since the date of preparation of this memorandum. The interest in the Property is submitted for sale subject to changes in certain terms without notice. By acknowledgment of your receipt of this confidential memorandum, you agree that the memorandum and its content are confidential, that you will hold and treat it in confidence, that you will not disclose
Section 2 Executive Summary
SECTION 2 Executive Summary AERIAL OUTLINE OF PROPERTY
SITE PLAN EXPANSION PLAN SECTION 2 Executive Summary
SITE PLAN EXPANSION PLAN SECTION 2 Executive Summary
Section 3 Portfolio Summary
VALUATION ANALYSIS - EXISTING & ADDITION SECTION 3 Portfolio Summary Moore Self Storage 603 Rodi Road Pittsburgh PA 15235 Valuation Analysis - Existing + Addition Midwest Actual-Existing Existing+Addition Average Existing New Total Square Footage 83,638 35,158 39,140 74,298 Units 552 279 231 510 % of Inc per SF per Unit % of Inc per SF Rental Income $477,477 88.5% $5.71 $864.99 $342,002 94.5% $9.73 Fee Icome $39,577 7.3% $0.47 $71.70 $6,648 1.8% $0.19 Net GS and Insurance $17,102 3.2% $0.20 $30.98 $10,535 2.9% $0.30 Misc Income $5,063 0.9% $0.06 $9.17 $2,570 0.7% $0.07 Total Revenue $539,219 100.0% $6.45 $976.85 $361,755 100.0% $10.29 $764,482.42 Admin Exp Other Exp On-Site Mgmt $48,981 9.1% $0.59 $88.73 $63,250 17.5% $1.80 $69,443.24 Admin Exp $10,375 1.9% $0.12 $18.80 $6,255 1.7% $0.18 $14,709.25 Insurance $5,783 1.1% $0.07 $10.48 $11,968 3.3% $0.34 $8,198.90 Mgmnt Fee $31,625 5.9% $0.38 $57.29 $21,677 6.0% $0.62 $44,836.62 RE Tax $49,567 9.2% $0.59 $89.80 $36,562 10.1% $1.04 $77,265.02 Total Admin Exp $146,331 27.1% $1.75 $265.09 $139,712 38.6% $3.97 $214,453.02 Advertising/Tech $12,512 2.3% $0.15 $22.67 $19,320 5.3% $0.55 $17,739.00 Postage Handling $4,340 0.8% $0.05 $7.86 $556 0.2% $0.02 $6,153.07 Credit Card/Bank Chrg $8,134 1.5% $0.10 $14.74 $5,118 1.4% $0.15 $11,532.05 Phone $7,494 1.4% $0.09 $13.58 $1,380 0.4% $0.04 $10,624.68 Other Exp $1,200 0.2% $0.01 $2.17 $14 0.0% $0.00 $1,701.31 Utilities $11,682 2.2% $0.14 $21.16 $11,373 3.1% $0.32 $16,562.26 Repairs/Maint $16,326 3.0% $0.20 $29.58 $25,914 7.2% $0.74 $23,146.33 Total Other Exp $61,688 11.4% $0.74 $111.75 $63,675 17.6% $1.81 $87,458.70 Total $208,019 38.6% $2.49 $376.85 $203,387 56.2% $5.78 $301,911.72 Net Operating Income $331,200 61.4% $3.96 $600.00 $158,368 43.8% $4.50 $462,570.71 Expenses based on: 2015 Self-Storage Expense Guidebook (MiniCo) RE Tax based on Actual % of Inc 7.0%CAP $6,608,152.93 Construction $ -$2,100,000 $4,508,152.93
EXPANSION CONSTRUCTION BUDGET SECTION 3 Portfolio Summary TOTAL AREA 44,380 gross sf storage space 39401 rentable sf 236 total units TAKEOFF PRICING % of Tot Division # Uniformat # Description Qty Unit Cost Const Cost Cost / SQFT 2 SITEWORK 1 LS 521,343.48 24.76% $11.75 3 CONCRETE 1 LS 631,392.00 29.99% $14.23 4 MASONRY 1 LS - 0.00% $- 5 STEEL 1 LS 703,848.00 33.43% $15.86 6 CARPENTRY 1 LS - 0.00% $- 7 THERMAL AND MOISTURE PROTECTION 24,192.00 1.15% $0.55 8 DOORS & HARDWARE 1 LS - 0.00% $- 9 DRYWALL & ACOUSTICS 1 LS - 0.00% $- 9 FLOORING & CERAMIC TILE 1 LS - 0.00% $- 9 PAINTING 1 LS - 0.00% $- 10 SPECIALTIES (incl toilet partn & accessories) 1 LS - 0.00% $- 11 EQUIPMENT 10,000.00 0.47% $0.23 12 FURNISHINGS - 0.00% $- 13 SPECIAL CONST - 0.00% $- 14 ELEVATORS - 0.00% $- 15 PLUMBING 1 LS - 0.00% $- 15 FIRE PROTECTION 1 LS - 0.00% $- 15 HVAC 1 LS - 0.00% $- 16 ELECTRICAL 1 LS 102,600.00 4.87% $2.31 ESTIMATING CONTINGENCY ON HARD COSTS 5% % 99,668.77 4.73% $2.25 SUBTOTAL HARD COSTS 2,093,044.25 99.41% $47.16 1 GENERAL CONDITIONS (includes final cleaning & building permit) 1 LS 12,500.00 0.59% $0.28 1 OVERHEAD & PROFIT 0% % - 0.00% $- SUBTOTAL GENERAL CONDITIONS AND FEE 12,500.00 0.59% $0.28 TOTAL CONSTRUCTION COST $2,105,544.25 100.00% $47.44 SOFT COSTS (includes Architect, construction management & supervision) $105,000.00 $2.37 TOTAL PROJECT COST $2,210,544.25 $49.81
HISTORICAL FINANCIALS SECTION 3 Portfolio Summary
HISTORICAL FINANCIALS SECTION 3 Portfolio Summary
MANAGEMENT SUMMARY SECTION 3 Portfolio Summary