Front Range Self Storage

Front Range Self Storage2019-09-03T11:58:41-04:00

Project Description

Front Range Self Storage is Under LOI.

UNDER LOI
NRSF – 76,233

2145 3rd Street
Monument, CO 80132

Front Range Self Storage is comprised of 76,233 rentable square feet and 665 drive-up units, ranging in size from 40 square feet to 280 square feet. The property is newly-paved with wide aisles and consists of all ground-level units for consumer convenience. The facility has physical and economic occupancies of 83.6 percent and 83.7 percent, respectively. To ensure secure storage, the site offers electronic gate access, 24-hour video surveillance and optimal lighting throughout the premises. The property boasts an excellent location off heavily-frequented Interstate 25 in a thriving region of Monument, Colorado.

The subject property resides on approximately 5.12 acres and is within close proximity to all of Monument’s resources and amenities. The property offers premium visibility from Interstate 25, one of Colorado’s major thoroughfares which allows for easy access to Colorado Springs and the region’s corresponding suburbs. Interstate 25 boasts a traffic count exceeding 90,000 vehicles per day. Additionally, the site offers convenient access to State Highway 105, which sustains a vehicle count of over 19,000 per day. Front Range Self Storage is surrounded by several national retailers and residential zones, including Monument and Woodmoor residential areas. The subject is situated in an affluent location with a median household income exceeding $110,000.

The subject offers multiple upsides as the primary self-storage option to the surrounding communities. An investor can increase revenue by increasing rates to match the comparable average, as the facility’s rental prices are currently below market. An investor can bolster the current truck rental and tenant insurance programs through aggressive marketing and efficient management. Monument is rapidly expanding; there is a projected population growth rate of 1.47 percent annually within a five-year span. Front Range Self Storage offers a well-maintained facility in a thriving sub-market of the Colorado Springs Metro Area.

Investment Highlights:

  • Well-Maintained Asset in a Thriving Demographic Region of the Colorado Springs Metropolitan Area
  • Prime Opportunity to Bolster Tenant Insurance and Truck Rental Programs Through Efficient Management and Aggressive Marketing
  • Newly-Paved with Wide Aisles and All Ground-Level Units for Consumer Convenience
  • Growth Potential Through Raising Rental Rates Currently Below Market
  • Ideal Location with Prime Visibility from State Highway 105 and Interstate 25, Which Sustain Traffic Counts Exceeding 19,000 and 90,000 Vehicles Per Day
  • Close Proximity to Several National Retailers, Residential Zones and Heavily-Utilized Resources Within the Region
  • High Projected Annual Growth Rate of 1.47 Percent Over the Next Five Years
  • Median Household Income of Over $110,000 Within Three Miles of the Site