21715 State Highway 131 - Flat Tops Storage
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21715 State Highway 131 - Flat Tops Storage
5,760 SF Specialty Building Offered at £578,177 at a 5.50% Net Initial Yield in Phippsburg, CO 80469
INVESTMENT HIGHLIGHTS
- On-Line Management System
- Potential to Increase Rents
EXECUTIVE SUMMARY
On US 40 in Phippsburg, Flat Tops Storage is well-located for Routt County residents, as well as anyone traveling south or west for recreation. The two-story building has 40 units in varying sizes from 5’x10’ units to 15’x20’ garages. Historical occupancy is approximately 90% and reservations and payments are managed on-line. The business has a strong cash flow and upside potential via additional occupancy or increased lease rates on the garages. This is an established, turn-key opportunity for someone looking to acquire a business with strong fundamentals and proven cash flow. Storage business continue to do well and experience low vacancy rates as the population of Routt County grows with outdoor users needing to store seasonal toys, equipment and personal belongings.
PROPERTY FACTS Under Contract
| Price | £578,177 | Building Class | B |
| Price Per SF | £100 | Lot Size | 0.28 AC |
| Sale Type | Investment | Building Size | 5,760 SF |
| Net Initial Yield | 5.50% | Number of Floors | 2 |
| Property Type | Specialty | Year Built | 2001 |
| Property Subtype | Self-Storage |
| Price | £578,177 |
| Price Per SF | £100 |
| Sale Type | Investment |
| Net Initial Yield | 5.50% |
| Property Type | Specialty |
| Property Subtype | Self-Storage |
| Building Class | B |
| Lot Size | 0.28 AC |
| Building Size | 5,760 SF |
| Number of Floors | 2 |
| Year Built | 2001 |
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PROPERTY TAXES
| Parcel Number | R6538685 | Improvements Assessment | £100,183 |
| Land Assessment | £18,753 | Total Assessment | £118,936 |
PROPERTY TAXES
Parcel Number
R6538685
Land Assessment
£18,753
Improvements Assessment
£100,183
Total Assessment
£118,936
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21715 State Highway 131 - Flat Tops Storage
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