J & S Storage

10,750 NRSF | 76 Units + 31,900 SF and 123 Unit Permitted Expansion Area | Colorado Springs, CO (MSA)

Under Contract

INVESTMENT OVERVIEW

J & S Storage is a self-storage facility consisting of 10,750 NRSF among 76 total units across 5 buildings with an office and is situated on a net size of 5.33 acres. The facility consists of all traditional non-climate drive-up units ranging 50-200 SF and includes 43 parking rentals, 5 office rentals located at the front of the property as well as a conference room, full kitchen, bathrooms, and a 2-car garage. The property has been extremely well maintained by current ownership and features concrete slabs, an electric gate for entrance and exit, and an exterior fence that surrounds the property.

J & S storage is situated in Colorado Springs MSA where it will have exposure to roughly 47,000 vehicles per day and sits adjacent to Fort Carson Military Base. J & S Storage has a physical occupancy of 95% and an economic occupancy of 90%. The facility includes permitted expansion plans that add an additional 24,750 NRSF across 6 buildings on the west wing with concrete slabs, an outdoor parking storage addition, and a surrounding exterior fence. These units range from 50-375 SF and will be adjacent to the current facility buildings.

Facility Summary

Property Name:              J & S Storage

Purchase Price:               $2,100,000

Address:                           9519 Bandley Dr, Fountain, CO 80817

County:                             El Paso

Total Land Area:             5.33 Acres +/-

Total NRSF:                     10,750

Total Units:                      76

Unit Sizes:                        50-200 SF

Physical Occupancy:       95%

Economic Occupancy:    90%

Buildings:                          5 Buildings

Investment Highlights

  • 95% Physical Occupancy and 90% Economic Occupancy
  • Expansion plans for an additional 24,750 NRSF and ample room for more expansion
  • Great road visibility with approximately 47,000 vehicles traveling per day on Ronald Reagan Highway
  • Opportunity to drastically align rental rates to align with nearby competition
  • Located in the second biggest MSA in Colorado