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Self-Storage Facility

24-7 Automated Storage Henderson

1601 Athol Ave, Henderson, NV 89011

Listing Price: $3,180,000

Cap Rate
5.03%
Number of Units
230
Occupancy
78.5%
Gross SF
66,000
Rentable SF
29,900
Price/Rentable SF
$106.35
Year Built
1979

Investment Overview

Strong Residential Development // Within two miles of the property, there are master planned communities under development by homebuilders such as, D.R. Horton, Lennar, Richmond American Homes, and Century Communities. In addition to the single-family development, there are 1,689 apartment units under construction or planned in the three-mile radius.

Upside Potential // Additional revenue can be achieved by increasing occupancy from 79 percent up to the market average of 90+ percent through increased online visibility, hands-on management, and an enhanced revenue management platform.

Below Market Rental Rates // The subject property's advertised rates are significantly below the advertised rates of their competitors and achieved rates range from 31 percent to 100 percent below the market high.

Demographics // 264,950 people live in a five-mile radius, with the population expected to grow six
percent over the next five years. There are over 102,500 households with an average income of $91,850.

Investment Highlights

  • Strong Residential Development
  • Upside Potential
  • Below Market Rental Rates
  • Demographics

Exclusively Listed By

  • Jordan Farrer

    First Vice President Investments

    (801) 736-2643

    Email Jordan

    License(s): UT: 9220604-SA00, NV: S.0192979, ID: SP54637

    Salt Lake City

Broker of Record

  • Cameron Glinton

    Regional Manager

    (702) 215-7100

    License(s) NV: B.1002894.CORP

    Nevada

Self-Storage Facility

24-7 Automated Storage Henderson

Listing Price: $3,180,000

Cap Rate
5.03%
Number of Units
230
Occupancy
78.5%
Gross SF
66,000
Rentable SF
29,900
Price/Rentable SF
$106.35
Year Built
1979

Investment Highlights

  • Strong Residential Development
  • Upside Potential
  • Below Market Rental Rates
  • Demographics

Investment Overview

Strong Residential Development // Within two miles of the property, there are master planned communities under development by homebuilders such as, D.R. Horton, Lennar, Richmond American Homes, and Century Communities. In addition to the single-family development, there are 1,689 apartment units under construction or planned in the three-mile radius. Upside Potential // Additional revenue can be achieved by increasing occupancy from 79 percent up to the market average of 90+ percent through increased online visibility, hands-on management, and an enhanced revenue management platform. Below Market Rental Rates // The subject property's advertised rates are significantly below the advertised rates of their competitors and achieved rates range from 31 percent to 100 percent below the market high. Demographics // 264,950 people live in a five-mile radius, with the population expected to grow six percent over the next five years. There are over 102,500 households with an average income of $91,850.

Exclusively Listed By

  • Jordan Farrer

    First Vice President Investments

    (801) 736-2643

    Email Jordan

    License(s): UT: 9220604-SA00, NV: S.0192979, ID: SP54637

    Salt Lake City

Broker of Record

  • Cameron Glinton

    Regional Manager

    (702) 215-7100

    License(s): NV: B.1002894.CORP

    Nevada

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