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Mini Storage: CSS Completed for 2004 Tax Year

The facility consists of three steel framed masonry buildings, labeled ‘A’ ‘B’ and ‘C’. Building B and C are one story structures, while building A is four stories tall. The property has a footprint of approximately 39,225 square feet with a total gross area of approximately 60,250 square feet and occupies a 2.58 acre site.

Mini Storage

<empty>Placed in Service: December 2003
 
Cost Basis: $3,436,396
 
Accelerated: $1,326,449 (38.6%)
 
1st Year Savings: Over $330,000*
 
10-Year NPV Savings: Over $385,000**

 

Mini Storage: CSS Completed for 2004 Tax Year

The facility consists of ten steel framed masonry buildings, all one story structures with the exception of building ‘A’ which has a partial second story. Building ‘A’ also features climate controlled storage spaces. The subject property has a footprint of approximately 85,950 square feet with a total gross area of approximately 87,450 square feet and occupies a 5.96 acre site.

Mini Storage

<empty>Placed in Service: April 2002
 
Cost Basis: $3,189,325
 
Accelerated: $119,453 (35.1%)
 
1st Year Savings: Over $95,000*
 
10-Year NPV Savings: Over $179,000**

 
 
 
*Estimate of first year tax savings based on a 40% tax rate.
**Estimate of 10-yr net present value savings based on a 40% tax rate and an 8% discount rate.