Exclusively Listed By:
EquiCap Commercial and
Argus Self Storage Advisors
List Price: $1,650,000
Land: 3.85 Acres
The project is fully entitled by the City of Prescott and the parcel has already been improved with a new retaining wall, utilities, sewer and grading. The development, as designed, envisions the construction of seven single-story self storage buildings providing both traditional drive-up units as well as climate-controlled spaces. The buildings will have just under 50,000 gross square feet and yield 45,540 net rentable square feet with 272 units. In addition, a 700 square foot office with ADA compliant public restroom will be built.
A new owner will have the ability to assume the purchase of the buildings, which are on order from Trachte Building Systems.
PRIME LOCATION // Located in a well traveled corridor on the north side of Prescott visible to over 11,000+ vehicles per day.
STONG DEMOS // The five-mile trade area boasts 24,105 people and 9,590 households. Five=year population growth is projected at 3.7 percent supporting future demand for self storage.
FAVORABLE SUPPLY INDEX // The three-mile supply index is 3.90 sq feet per capita (Note: The Facility across the street is to be demoed in the near future)
MARKET GROWTH // Prescott has four Residential Developments underway, adding close to 200 homes to the City.
MORATORIUM ON STORAGE // The City of Prescott has issued a moratorium on any future self storage developments within City limits.