investment highlights
- UPSIDE REVENUE POTENTIAL // New owner will benefit by raising rates 12-19 percent to match the market, implementing an internet advertising campaign (currently no advertising done and web presence is minimal), and offering tenant insurance.
- COLORADO HIGH COUNTRY LOCATION // The town of Parachute is located in the Colorado mountains, 43 miles west of Glenwood Springs in the highly desirable I-70 corridor.
- STRATEGIC VISIBILITY // Main location is visible from I-70 and it’s 21,026 vehicles per day.
- FAVORABLE DEMOS // $89,771 average household income within five miles and 24 percent population increase since 2010.
- UPSIDE POTENTIAL VIA NAME SYNCHRONIZATION // The facility will benefit from updating the website name, Google Maps profile name, and the on-site property signage which currently all have different names and is likely confusing to prospective tenants.
property summary
Caboose Storage is a 328-unit, 28,550 net rentable square foot self-storage facility located in Parachute, Colorado. The property sits on around 3.66 acres of land and contains seven single-story self-storage buildings with 328 drive-up units.
Caboose Storage has many amenities including a gated entry with a digital keypad (at annex), an onsite management residence and office at the main location, video cameras throughout the facility, and units with roll-up doors.
The facility is centrally located in Parachute with excellent visibility from Interstate 70 with over 21,026 passing vehicles per day. There are major drivers in the immediate area such as McDonald’s, Family Dollar, and Domino’s to name a few. Parachute is a middle class neighborhood with strong storage fundamentals and average household incomes exceeding $89K a year.
