1212 Gordon Dr - Value Add Self-Storage Expansion Opportunity
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1212 Gordon Dr - Value Add Self-Storage Expansion Opportunity
17,800 SF Speciality Building Offered at £2,481,255 at a 5.02% Net Initial Yield in Kingman, AZ 86409
Investment Highlights
- Approved Expansion Opportunity
- Cash Flowing Asset
- Strong Historical Occupancy
Executive Summary
Canyon Self Storage is a well maintained, cash flowing asset in the vibrant Kingman market of Northwestern Arizona.
The Value Add opportunity lies in the approved site plan for an additional 10,200 sf of building area. The expansion is made up of a highly desirable unit mix:
Twenty-eight 15x10s
Twenty-five 10x20s.
Ten 10x10s.
In the current facility the the larger units (all 10x20's) are 97% occupied, providing proof of concept that there is a strong demand for the specific unit mix in the site expansion.
Tenant Insurance has also just been implemented, and should steadily increase cashflow for new owner.
The facility overall has a physical occupancy of over 80%.
Currently there are 150 interior drive up units, and 30 RV and Boat parking spaces.
Kingman has a steady and strong population growth of 2.63%, with a current population of 34,918.
Kingman serves as a tourist base Lake Havasu and Lake Mohave, as well as several prominent hiking and camping destinations such as Hualapai Mountain Park.
The Value Add opportunity lies in the approved site plan for an additional 10,200 sf of building area. The expansion is made up of a highly desirable unit mix:
Twenty-eight 15x10s
Twenty-five 10x20s.
Ten 10x10s.
In the current facility the the larger units (all 10x20's) are 97% occupied, providing proof of concept that there is a strong demand for the specific unit mix in the site expansion.
Tenant Insurance has also just been implemented, and should steadily increase cashflow for new owner.
The facility overall has a physical occupancy of over 80%.
Currently there are 150 interior drive up units, and 30 RV and Boat parking spaces.
Kingman has a steady and strong population growth of 2.63%, with a current population of 34,918.
Kingman serves as a tourist base Lake Havasu and Lake Mohave, as well as several prominent hiking and camping destinations such as Hualapai Mountain Park.
Property Facts
| Price | £2,481,255 | Building Class | C |
| Price Per SF | £139 | Lot Size | 1.59 AC |
| Sale Type | Investment | Building Size | 17,800 SF |
| Net Initial Yield | 5.02% | Number of Floors | 1 |
| Property Type | Speciality | Year Built | 1990 |
| Property Subtype | Self-Storage |
| Price | £2,481,255 |
| Price Per SF | £139 |
| Sale Type | Investment |
| Net Initial Yield | 5.02% |
| Property Type | Speciality |
| Property Subtype | Self-Storage |
| Building Class | C |
| Lot Size | 1.59 AC |
| Building Size | 17,800 SF |
| Number of Floors | 1 |
| Year Built | 1990 |
Amenities
- Signage
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PROPERTY TAXES
| Parcel Numbers | Improvements Assessment | £0 | |
| Land Assessment | £0 | Total Assessment | £84,085 |
PROPERTY TAXES
Parcel Numbers
Land Assessment
£0
Improvements Assessment
£0
Total Assessment
£84,085
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Presented by
Pacific States Capital
1212 Gordon Dr - Value Add Self-Storage Expansion Opportunity
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