Big Storage

Big Storage2021-05-24T12:16:51-04:00

Project Description

The Self-Storage Advisory Group of Cushman & Wakefield has been selected to exclusively market for sale Big Storage in Albuquerque, NM.

Under Contract
NRSF – 51,524

100 Mescalero Road NW
Albuquerque, NM 87107

The subject property represents a well-maintained storage asset comprised of 51,524 rentable square feet on approximately 2.05 acres of land. The facility features 59 non-climate-controlled options and 4 rental parking spaces for a total of 63 units. The site was built in 2004 and is impeccably located in the heart of Albuquerque, New Mexico. The subject has excellent physical and economic occupancies of 100 percent and 82 percent, respectively, indicating a strong market for self-storage in one of the country’s flourishing business hubs. To ensure secure storage, the property utilizes a brand new, state-of-the-art security system and electronic gate access to ensure a secure premise. Additionally, the property recently underwent several capital improvements, LED lighting throughout the site, and a fully renovated office.

The site is situated in a thriving division of Albuquerque, with premium access to the area’s most frequented thoroughfares. The facility is accessible from 2nd St NW, which witnesses a traffic count of over 19,000 vehicles daily. Additionally, the site is approximately two miles (driving distance) from Pan American Freeway, a major roadway with a traffic count exceeding 200,000 vehicles daily. The facility is encompassed by several national retailers and major resources within the immediate vicinity, including Wells Fargo, USPS, Walmart, Walgreens, Domino’s Pizza, The Holiday Inn, and TownePlace Suites by Marriott, among several other popular destinations. The facility benefits from an average household income approaching $70,000 annually, surpassing the national
average. There are over 77,000 residents within three miles; the subject property serves as one of the premier storage options within the immediate trade area.

The facility represents an excellent opportunity to acquire an established storage asset in a thriving location of Albuquerque with multiple upsides. The facility will be primed for continued success as the area’s demand for storage remains consistent year over year; the subject’s strong occupancies are indicative of this desirable market. The subject boasts solid financial projections in the coming years, including cash-on-cash returns of 8.3 percent and 9.4 percent in years three and four, in addition to a levered IRR of 20.5 percent in year five. Additionally, an investor can capitalize by bolstering the current tenant insurance program and implementing truck rentals for further profits. The site encompasses the key components for the ideal storage investment with updated amenities, a centralized downtown location, and a consistent consumer base to ensure success in the current and future market.

Investment Highlights:

  • Premium Storage Asset with Multiple Upsides in the Heart of Albuquerque, New Mexico
  • Several Capital Improvements Recently Implemented, Including a Brand New, State-of-the-Art Security System, LED Lighting Throughout the Property, a Fully Renovated Office
  • Excellent current and historical Physical and Economic Occupancies of 100 Percent and 82 Percent, Respectively, with Ample Room for Financial Growth
  • Strong Financial Projections Include a Cash-on-Cash Return of 9.4 Percent in Year Four and a Levered IRR of 20.5 Percent in Year Five
  • Convenient Access to the Region’s Major Thoroughfares, Including Pan American Freeway, with a Robust Traffic Count Exceeding 200,000 Vehicles Daily
  • Encompassed by a Multitude of National Retailers and Major Resources, Signifying the Area’s Growth
  • A Centralized Location with Strong Demographics with a Consistent Consumer Base Comprise the Ideal Storage Investment for Years to Come
  • Sign CA to View Offering Memorandum

  • Confidentiality and Buyer Registration Agreement

    Cushman & Wakefield U.S., Inc. ("Broker") has been retained as the exclusive advisor and broker regarding the sale of the property known as Big Storage.

    To receive an Offering Memorandum ("Offering Memorandum") please read, sign and return this completed Confidentiality Agreement to Broker. The Offering Memorandum has been prepared by Broker for use by a limited number of parties and does not purport to provide a necessarily accurate summary of the property or any of the documents related thereto, nor does it purport to be all-inclusive or to contain all of the information which prospective Buyers may need or desire. All projections have been developed by Broker and designated sources and are based upon assumptions relating to the general economy, competition, and other factors beyond the control of the Seller and therefore are subject to variation. No representation is made by Broker or the Seller as to the accuracy or completeness of the information contained herein, and nothing contained herein shall 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, the Seller and its employees disclaim any responsibility for inaccuracies and expect prospective purchasers to exercise independent due diligence in verifying all such information. Further, Broker, the Seller and its employees disclaim any and all liability for representations and warranties, expressed and implied, contained in or omitted from the Offering Memorandum or any other written or oral communication transmitted or made available to the Buyer. The Offering Memorandum does not constitute a representation that there has been no change in the business or affairs of the property or the Owner since the date of preparation of the Offering Memorandum. Analysis and verification of the information contained in the Offering Memorandum are solely the responsibility of the prospective Buyer. Additional information and an opportunity to inspect the property will be made available upon written request to interested and qualified prospective Buyers.

    By accepting the Offering Memorandum, you agree to indemnify, defend, protect and hold Seller and Broker and any affiliate of Seller or Broker harmless from and against any and all claims, damages, demands, liabilities, losses, costs or expenses (including reasonable attorney's fees, collectively "Claims") arising, directly or indirectly from any actions or omissions of Buyer, its employees, officers, directors or agents.

    By accepting the Offering Memorandum, you acknowledge that you are a principal and not an agent of or acting on behalf of any other party in connection with the acquisition. Buyer acknowledges that it is aware that any Agent/Broker other than Cushman & Wakefield, must be compensated by Buyer as Cushman & Wakefield is not cooperating on fees. Furthermore, Buyer acknowledges that it has not had any discussion regarding this Property's Sale with any other broker or agent other than Broker or an agent/broker properly identified through this registration process, including but not limited to, resolutions of incomplete, conflicting or duplicate registrations. Buyer shall indemnify and hold Seller and Broker harmless from and against any claims, causes of action or liabilities, including, without limitation, reasonable attorney's fees and court costs which may be incurred with respect to any claims for other real estate commissions, broker's fees or finder's fees in relation to or in connection with the Property to the extent claimed, through or under Seller.

    The Seller and Broker each expressly reserve the right, at their sole discretion, to reject any or all expressions of interest or offers regarding the Property and/or to terminate discussions with any entity at any time with or without notice. The Seller shall have no legal commitment or obligations to any entity reviewing the Offering Memorandum or making an offer to purchase the Property unless a written agreement for the purchase of the Property has been fully executed, delivered, and approved by the Seller and its legal counsel, and any conditions to the Seller's obligation thereunder have been satisfied or waived.

    The Offering Memorandum and the contents, except such information which is a matter of public record or is provided in sources available to the public, are of a confidential nature. By accepting the Offering Memorandum, you agree that you will hold and treat it in the strictest confidence, that you will not photocopy or duplicate it, that you will not disclose the Offering Memorandum or any of the contents to any other entity (except to outside advisors retained by you, if necessary, for your determination of whether or not to make an offer and from whom you have obtained an agreement of confidentiality) without prior written authorization of the Seller or Broker, and that you will not use the Offering Memorandum or any of the contents in any fashion or manner detrimental to the interest of the Seller or Broker.

    No employee of seller or at the subject property is to be contacted without the written approval of the listing agents and doing so would be a violation of this confidentiality agreement.