investment highlights
- STRATEGIC LOCATION // The facility is located along the highly coveted I-70 corridor boasting some of the highest occupancy rates in the state of Colorado. The property attracts over 60 percent of its tenants from outside the city of Rifle creating a highly diversified renter base and consistent revenue stream. Walmart, McDonald’s and a brand new Tractor Supply are in close proximity along the subject’s frontage road with car counts exceeding 12,000 VPD.
- EXPANSION POTENTIAL // There are two acres (approx.) of land currently being utilized for surface parking at the rear of property creating the opportunity to add additional square footage. Current plans call for a desirable mix of 38,900 square feet of “big bay” units with high doors and 22,425 square feet of canopy parking to accommodate the area’s robust recreational vehicle demand.
- ATTRACTIVE LAYOUT AND DESIGN // Ground level access across the entirety of the facility featuring both non-climate as well as premium climate-controlled units and 225 fenced/gated surface parking spaces. All metal construction with asphalt drives with an upgraded rental office and a three bedroom, two bath house.
- STRONG HISTORIC PERFORMANCE // The facility has maintained high occupancy in the self-storage portion of the facility and excellent revenue growth over the hold period for the current owner. Additional upside can be attained by revenue managing the existing tenant base, increasing occupancy in the surface parking and/or building enclosed/canopy units and raising asking rents to match the primary competitor (Rifle Self Storage).
- AMENITIES AND FEATURES // Advanced security system with 24/7 surveillance, controlled gate access (x3), and individually alarmed units. Drive-up climate-controlled units, expansive unit sizes to accommodate a wide range of storage needs and well lit throughout the facility.
