ALBUQUERQUE, NEW MEXICO

Investment Summary

North Coors Self Storage has tremendous upside potential for investors. Seller currently has low market rents, no application fees, no retail sales and no insurance income. This property has consistently averaged between 95-100% occupied for the last 10 years with waiting lists of potential renters. The Seller has steadily constructed additional units as needed over the years. The current cap rate for the offering is 5.86% based on 2024 YE financials, seller to provide upon signing of confidentiality agreement to release financials. Additionally seller is offering seller financing utilizing a New Mexico Real Estate Contract (installment sale).

Site Analysis

Prime Location with High Visibility: Situated on the highly trafficked Coors Blvd., this 4.55 acre self storage property boasts lit monument signage that catches the eyes of approximately 50,000 passing vehicles daily (bidirectionally). With a mix of residential, commercial, and retail establishments in the area, this property offers unbeatable exposure and accessibility for potential customers.
Thriving Rental Market: Within a mile radius, there are 118 residential rental properties, including 22 multi-family units totaling 1,296 units. This thriving rental market ensures a constant demand for storage solutions, making this self storage property an ideal investment opportunity.
Future Growth Potential: The area's development is on the rise, with plans for a 208-unit multi-family project just a quarter mile south of the site, set to break ground in Fall 2023. This upcoming development further solidifies the potential for increased demand and profitability for this self storage property.
Limited Competition: Within a one-mile radius, there is only one self storage competitor, Extra Space, which is located on Airport Rd. and offers an inferior location compared to this property. Additionally, there are three more competitors within a three-mile radius, highlighting the scarcity of self storage options in the immediate vicinity and the opportunity for this property to capture a significant market share. Invest in this self storage property at 615 Coors Blvd. NW and seize the opportunity to capitalize on its prime location, thriving rental market, future growth potential, and limited competition. Don't miss out on the chance to maximize your ROI in this lucrative investment.

Albuquerque, New Mexico

Albuquerque is centrally located in the state of New Mexico and ringed with mountains to the East at an average elevation of 5,250 feet, making it a high and dry mild climate. Current estimates of Albuquerque MSA population is around 929,000 with an average positive year to year growth of about 1.5%. The economic drivers for the area is mainly consumer and financial services, Federal/State/City government support operations, as well as small niche manufacturing of precision and scientific instruments for both research and computer chip manufacturing. Largest employers include Kirtland AFB/ Sandia National Laboratories, Albuquerque Public Schools, Presbyterian Healthcare, University of New Mexico, Lovelace Healthcare and city of Albuquerque.

West Mesa Submarket

North Coors Self Storage is located in the West Mesa submarket of Albuquerque, New Mexico. The West Mesa is a flat geographical area that is directly West of the Rio Grande River basin and is framed in by a volcanic geologic feature known as the escarpment, a raised area of expose volcanic rock. The West Mesa submarket runs North to Rio Rancho and South to the South Valley along the Coors boulevard (main North South arterial) and is bisected (East West) by Interstate 40 to the South and Paseo Del Norte (state highway) in the North with the Rio Grande River to the East and the escarpment to the West. It is one of the fastest areas of growth in the Albuquerque market. The population tends to be young working families with average median incomes of $45,893 and average high income of $64,783 within 5 mile radius of the site. Family formation and growth is healthy 2.70% growth rate.