The LeClaire Group of Marcus & Millichap is pleased to offer this self storage listing in Loveland, Colorado. INVESTMENT HIGHLIGHTS
-25,375 Net Rentable Square Feet- 142 Drive Up and Interior Units
-Currently 93.8 Percent Physically Occupied
-2014 Construction That Has Been Meticulously Maintained
-Features a 24-Hour Kiosk and an On-Site Leasing Office
-Located on Highway 34, a Main Corridor Through Loveland With Access to Estes Park
-Very Limited Competition Within a Three Mile Radius
MJP Self Storage is a 25,375 net rentable square foot facility located in Loveland, Colorado. The property consists of 142 non climate-controlled units of which 125 are drive up and 17 are accessible from interior hallways.
The facility was built in 2014 and officially opened for business in early 2015. Situated on a 2.1-acre parcel, the property features four single story buildings that are of metal construction with standing seam roofs and features wide concrete drives throughout. The perimeter is secured with chain link fencing topped with barbed wire and features an automated gate with keypad access. The property is well lit and equipped with a 24-hour video surveillance system.
MJP Self Storage features a 24-hour self-service kiosk and has an onsite leasing office with a restroom. The facility is currently 93.8 percent physically occupied and 88.7 percent economically occupied. MJP Self Storage shows very well from the road and has a large freestanding sign at the front of the property giving it excellent drive by visibility. The property is very clean and has been meticulously maintained.
The facility sits on Highway 34 which is a main thoroughfare running from I-25 through the city of Loveland with an average traffic counts of approximately 12,284 per day. Highway 34 continues all the way to Estes Park, home of Rocky Mountain National Park, the fourth most popular national park in the United States with over 4.4 million visitors in 2017 alone. The property is strategically located on the western side of Loveland in its own distinct submarket and has very limited competition within a three-mile radius. There are approximately 81,670 people and 32,965 households within a five-mile radius of the property with an average household income of $73,492.
MJP Self Storage is a unique opportunity to acquire a stabilized asset in a well performing market. This facility should require less hands-on management than a typical facility thanks to the self-serve kiosk and newer construction. A new investor could benefit from the implementation of more sophisticated revenue management practices and increased advertising efforts.