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Self-Storage Facility

Scenic Self Storage

3030 S Scenic Blvd, Littlefield, AZ 86432

Listing Price: $2,606,000

Cap Rate
6.39%
Number of Units
354
Occupancy
60.5%
Gross SF
40,000
Rentable SF
34,770
Price/Rentable SF
$74.95
Year Built
2004

Investment Overview

UPSIDE IN MANAGEMENT // The property has been locally managed and supervised by an out-of-state regional manager. The property does not have a sophisticated marketing program or strategy to attract or retain tenants. The onsite manager has been with the site since previous ownership but has not had effective support to fill the vacancies.

GROWTH LOCATION // The greater Mesquite, NV region has historically been a base for snowbirds with the number of residents peaking during the late fall and winter months. In recent years, Mesquite, NV has been an affordable housing destination for commuters working in Las Vegas, NV, and St. George, UT. The five-year population growth for the property is projected to be 14.63 percent, the area has grown 43.5 percent since 2010.

LEASE-UP OPPORTUNITY // With the snowbird population and increased demand for RV spaces during the winter months occupancy typically increases from September to March and falls during the summer months. In the region properties with enclosed RV spaces or canopy parking maintain more stable occupancy year-round.

Investment Highlights

  • UPSIDE IN MANAGEMENT
  • GROWTH LOCATION
  • LEASE-UP OPPORTUNITY

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s) AZ: BR675146000

    Arizona

Self-Storage Facility

Scenic Self Storage

Listing Price: $2,606,000

Cap Rate
6.39%
Number of Units
354
Occupancy
60.5%
Gross SF
40,000
Rentable SF
34,770
Price/Rentable SF
$74.95
Year Built
2004

Investment Highlights

  • UPSIDE IN MANAGEMENT
  • GROWTH LOCATION
  • LEASE-UP OPPORTUNITY

Investment Overview

UPSIDE IN MANAGEMENT // The property has been locally managed and supervised by an out-of-state regional manager. The property does not have a sophisticated marketing program or strategy to attract or retain tenants. The onsite manager has been with the site since previous ownership but has not had effective support to fill the vacancies. GROWTH LOCATION // The greater Mesquite, NV region has historically been a base for snowbirds with the number of residents peaking during the late fall and winter months. In recent years, Mesquite, NV has been an affordable housing destination for commuters working in Las Vegas, NV, and St. George, UT. The five-year population growth for the property is projected to be 14.63 percent, the area has grown 43.5 percent since 2010. LEASE-UP OPPORTUNITY // With the snowbird population and increased demand for RV spaces during the winter months occupancy typically increases from September to March and falls during the summer months. In the region properties with enclosed RV spaces or canopy parking maintain more stable occupancy year-round.

Exclusively Listed By

Broker of Record

  • Ryan Sarbinoff

    First Vice President/Regional Manager

    (602) 687-6700

    License(s): AZ: BR675146000

    Arizona

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