Hill Road
My Space Self Storage purchased an existing 187-unit self-storage facility at 1287 W Hill Road in Mundy Township, MI in 2007. Over the ensuing years, Storage Builders, LLC executed multiple expansions, bringing the property to its current capacity of 350 units and 63,000 Net Rentable Square Feet (NRSF). The facility currently offers a combination of ambient drive-up individual units and dedicated outdoor parking for RVs, boats, and cars. Total expansion costs reached nearly $1 Million. Funded by the First National Bank of Howell, the property now generates $261,000 in annual revenue and was appraised in 2021 at $2,970,000.
Building on this site, My Space Self Storage has purchased an adjoining 5-acre parcel of land and completed entitlements to add 48,000 square feet of new self-storage space. This phase features a 25,000 square foot interior climate-controlled building and a new office, alongside 23,000 NRSF of ambient drive-up units. Storage Builders will serve as the general contractor for this expansion, which has a projected construction and development cost of $4.6 Million. Once completed and stabilized, the new addition will produce $540,000 in annual revenue and yield an additional value of $7 Million. Financing for the new phase will be provided by Bank of Ann Arbor, the successor to First National Bank of Howell.